CallWave (CALL) Announces Tender Offer To Purchase Its Shares At $1.15 A Share, A 44% Premium
Up)
CallWave, Inc. (NASDAQ: CALL) announced that it is offering to purchase shares of its common stock in a tender offer for $1.15 per share. The offer price represents a premium of approximately 44% to the closing price of the Company's common shares of $0.80 on the NASDAQ as of the close of business on May 4, 2009. In connection with the tender offer, CallWave stated that it intends to deregister and delist its common stock and take the Company private.
CallWave plans to use cash on hand to pay for shares purchased under the tender offer. As of March 31, 2009, the Company reported $35.2 million in cash and cash equivalents. As of May 31, 2009, there were 21,175,971 shares of the Company's common stock issued and outstanding.
Click Here To Try StreetInsider's LIVE NEWS FEED for FREE for a limited time! http://www.streetinsider.com/premium_content.php
CallWave plans to use cash on hand to pay for shares purchased under the tender offer. As of March 31, 2009, the Company reported $35.2 million in cash and cash equivalents. As of May 31, 2009, there were 21,175,971 shares of the Company's common stock issued and outstanding.
Click Here To Try StreetInsider's LIVE NEWS FEED for FREE for a limited time! http://www.streetinsider.com/premium_content.php
You May Also Be Interested In
- BofA (BAC), Barclays (BCS) to Sell Remaining Archstone Interest in $1.58B Deal to Lehman Bros.
- UPDATE: Angelo, Gordon to Acquire Benihana (BNHN) for $16.30/Share in Cash
- Dollar Thrifty (DTG) Shares Spike Higher as Hertz (HTZ) Could Make an Offer
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
