Benzinga | Sep 15, 2020 08:14AM EDT

MicroStrategy Announces Final Results Of Modified Dutch Auction Tender Offer

MicroStrategy(r) Incorporated (NASDAQ:MSTR) ("MicroStrategy"), the largest independent publicly-traded business intelligence company, today announced the final results of its "modified Dutch Auction" tender offer, which expired at 5:00 P.M., New York City time, on September 10, 2020.

Based on the final count by American Stock Transfer & Trust Co., LLC, the depositary for the tender offer, a total of 432,313 shares of MicroStrategy's class A common stock, par value $0.001 per share (each share of MicroStrategy's class A common stock, a "Share," and collectively, "Shares"), were properly tendered and not properly withdrawn at or below the purchase price of $140.00 per Share.

MicroStrategy has accepted for purchase a total of 432,313 Shares through the tender offer at a price of $140.00 per Share, for an aggregate cost of $60.5 million, excluding fees and expenses relating to the tender offer. The total of 432,313 Shares that MicroStrategy has accepted for purchase represents approximately 4.5% of the total number of outstanding shares of MicroStrategy's capital stock as of September 14, 2020.

Morgan Stanley & Co. LLC acted as dealer manager for the tender offer. MicroStrategy stockholders who have questions or would like additional information about the tender offer may contact the information agent for the tender offer, Georgeson LLC, toll-free at 1 (866) 828-4304.