Tucows (TCX) Will Tender 4.1M Shares in Latest Offer

January 10, 2013 1:01 PM EST Send to a Friend
Tucows Inc. (AMEX: TC) announced the final results of its modified "Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on January 4, 2013.

Tucows will purchase 4,114,121 shares of its Common Stock at a purchase price of $1.50 per share, for a total cost of $6,171,182, excluding fees and expenses related to the tender offer.

Payment for shares accepted for purchase will be funded partly in cash and from two demand loan facilities Tucows currently has with the Bank of Montreal. The 4,114,121 shares accepted for purchase in the tender offer represent approximately 9.3% of Tucows' currently issued and outstanding Common Stock.

Payment for shares accepted for purchase, and the return of all other shares tendered but not accepted for payment, will be made promptly by Registrar and Transfer Company, the depositary for the tender offer.

All shares purchased by Tucows in the tender offer will be cancelled. As a result of the completion of the tender offer and immediately following payment of the tendered shares, Tucows will have approximately 40,215,688 shares issued and outstanding.


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