UTStarcom announces preliminary results of tender offer

theflyonthewall.com

UTStarcom announced the preliminary results of its previously announced tender offer for the purchase of up to 25M of its ordinary shares at a price of $1.20 per share, which expired on Thursday, January 3. Based on the preliminary count by Computershare Trust Company N.A., the depositary for the tender offer, a total of about 62.96M of UTStarcom's ordinary shares were properly tendered and not properly withdrawn. Additionally, 1.06M shares were tendered pursuant to notice of guaranteed delivery procedures. In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, UTStarcom expects to accept for purchase 25M of its ordinary shares at a purchase price of $1.20 per share, for an aggregate cost of approximately $30M, excluding fees and expenses relating to the tender offer.

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