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News >> Technology >>
Keynote announces results of issuer tender offer
By siliconindia
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Friday, 23 May 2003, 19:30 IST
SAN MATEO: Keynote Systems, Inc. (Nasdaq:KEYN) on Friday announced the final results of its issuer tender offer for 7.5 million shares of its common stock at a purchase price of $9.50 per share, net to the seller in cash, without interest, which expired on May 16, 2003.
Based on a final count by American Stock Transfer & Trust Company, the depositary for the offer, approximately 4.3 million shares of common stock were properly tendered and not withdrawn.
Pursuant to applicable securities laws, Keynote has purchased all of the tendered shares at a purchase price of $9.50 per share, the company said in a press release. The aggregate purchase price paid is approximately $40.5 million, and Keynote has funded the payments for shares from available cash. The purchased shares represent approximately 19% of the company's approximately 22.8 million shares outstanding as of April 30, 2003.