CompuCredit Holdings Corp. (CCRT: Quote) announced the preliminary results of its cash tender offer to purchase up to 8.25 million shares of its outstanding common stock, no par value per share , at a purchase price of $10.00 per share. The tender offer expired on September 12, 2012.
Based on the count by American Stock Transfer & Trust Company, LLC, the Depositary for the tender offer, as of the Expiration Date, 23.23 million shares of Common Stock were validly tendered and not withdrawn in the tender offer, including 3.21 million shares tendered through notice of guaranteed delivery, CompuCredit said.
CompuCredit said it expects to accept for payment 8.25 million shares of Common Stock at a purchase price of $10.00 per share, for a total cost of approximately $82.5 million, excluding fees and other expenses in connection with the tender offer. The number of shares of Common Stock that CompuCredit expects to purchase represents approximately 34.9% of the shares of Common Stock outstanding.
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by RTT Staff Writer
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