Quest Software (QSFT) Announces Results of Modified Dutch Auction Tender Offer; Bought 6.8M Shares At $14 Per Share

July 1, 2009 9:16 AM EDT

Quest Software, Inc. (Nasdaq: QSFT) announced the preliminary results of its previously announced modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City Time, on Tuesday, June 30, 2009.

Based on the preliminary count by the depositary for the tender offer, Quest expects to purchase approximately 6,850,871 shares in the tender offer, at a price of $14.00 per share, for a total cost of approximately $96 million, excluding fees and expenses related to the tender offer.

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The approximately 6,850,871 shares expected to be purchased in the tender offer represent approximately 7.23% of the shares outstanding on June 29, 2009. These results reflect that a total of approximately 6,850,871 shares were validly tendered and not withdrawn at a price of $14.00 or less per share.

The number of shares to be purchased and the price per share under the tender offer are preliminary. Final results will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn.

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