Sole Dealer Manager
GlobalSCAPE, Inc.
Equity Capital Markets
Modified Dutch Auction Tender Offer
Transaction Details
- On September 20, 2018, GlobalSCAPE, Inc. (“GSB” or the “Company”) announced the preliminary results of its modified Dutch auction tender offer to purchase shares of GSB’s common stock at a purchase price between $4.00/share and $4.50/share (the “Tender Offer”)
- The Tender Offer expired at 12:00 midnight, EDT on Wednesday, September 19, 2018
- Approximately 5.2 million shares were properly tendered and not withdrawn at or below the final purchase price of $4.20/share, based on the preliminary count by the Depositary
- The Company expects to acquire approximately 4.0 million shares at a price of $4.20 per Share, for an aggregate cost of approximately $16.9 million
- The preliminary proration factor for the Tender Offer is approximately 77%
- The shares expected to be acquired in the Tender Offer represent approximately 18% of the total GSB shares issued and outstanding as of September 19, 2018
- Stephens Inc. served as Sole Dealer Manager for the Tender Offer
About the company
GlobalSCAPE, Inc. (NYSE American: GSB) is a pioneer in securing and automating the movement and integration of data seamlessly in, around and outside your business, between people and places, in and out of the cloud. GlobalSCAPE provides technology that automates your work and secures your data, while giving visibility to those who need it. GlobalSCAPE makes business flow brilliantly.
Sources: Company filings and press release.
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This material has been prepared solely for informative purposes as of its stated date and is not a solicitation, or an offer, to buy or sell any security. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources which we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. Such information is believed to be accurate on the date of issuance of the material. No subsequent publication or distribution of this material shall mean or imply that any such information or opinion remains current at any time after the stated date of the material. We do not undertake to advise you of any changes in any such information or opinion. Additional information is available upon request.
The tender offer for these securities is being made only by means of a Tender Offer Statement on Schedule TO, including an offer to purchase, a letter of transmittal and related materials, copies of which may be obtained from the Securities and Exchange Commission’s website at www.sec.gov at the following link: https://www.sec.gov/Archives/edgar/data/1112920/000092189518002457/toi11906004_08222018.htm, as amended by https://www.sec.gov/Archives/edgar/data/1112920/000092189518002585/toia11906004_09132018.htm.