UTStarcom Updates on Tender Offer
Jan 15, 2013 (Close-Up Media via COMTEX) --
UTStarcom Holdings Corp., a provider of media operational support services and broadband equipment products and services, announced the final results of its previously announced tender offer to purchase up to 25,000,000 of its ordinary shares at a price of $1.20 per share, which expired at 5 P.M., New York City time, on Thursday, January 3, 2013.
According to a release, UTStarcom has accepted for purchase 25,000,000 of its ordinary shares at a price of $1.20 per share, for an aggregate cost of $30,000,000 excluding fees and expenses relating to the tender offer.
Based on the final tabulation by Computershare Trust Company N.A., the Depositary for the tender offer, 63,357,546 of UTStarcom's ordinary shares were properly tendered and not withdrawn (excluding any conditional tenders that were not accepted due to the specified condition not being satisfied). UTStarcom has been informed by the Depositary that, after giving effect to the priority for "odd lots," the final proration factor is approximately 39.4 percent.
UTStarcom is focused on providing next generation media operational support services in the markets for TV over IP services and broadband equipment products and services.
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