GlobalSCAPE Announces Final Results of its Modified Dutch Auction Tender Offer
25 Setembro 2018 - 9:30AM
Business Wire
GlobalSCAPE, Inc. (NYSE American: GSB), (“GlobalSCAPE” and/or
the “Company”) today announced the final results of its previously
announced modified Dutch auction tender offer (“Tender Offer”) to
purchase up to $15,000,000 in value of shares of its common stock,
par value $0.001 per share (the “Shares”) at a purchase price not
greater than $4.50 nor less than $4.00 per Share. The Tender Offer
expired at 12:00 midnight, New York City time, on Wednesday,
September 19, 2018.
Based on the final count by American Stock Transfer & Trust
Company, the Depositary for the Tender Offer, the Company has
accepted for purchase 4,011,013 Shares at a purchase price of $4.20
per Share, for an aggregate cost of approximately $16.8 million,
excluding fees and expenses relating to the Tender Offer. Included
within the Shares accepted for purchase are 439,585 Shares that the
Company elected to purchase pursuant to its right to increase the
size of the Tender Offer by up to 2.0% of the Company’s outstanding
common stock. As such, the Company used a proration factor of
approximately 77.1% of Shares from each tendering stockholder. The
Shares purchased represent approximately 18.2% of the Company’s
common stock issued and outstanding as of September 24, 2018.
Following consummation of the Tender Offer, the Company has
17,968,268 Shares outstanding.
As noted in the offer to purchase relating to the Tender Offer,
the Company may also purchase additional Shares in the future in
the open market subject to market conditions. The Company may also
purchase Shares in private transactions, tender offers, or
otherwise. Under applicable securities laws, however, the Company
may not purchase any Shares until after October 3, 2018. Any future
purchases of Shares by the Company will depend on many factors,
including the market price of the Shares, the results of the Tender
Offer, results of operations, financial position and capital
requirements, general business conditions, legal, tax and
regulatory constraints or restrictions, any contractual
restrictions and other factors it deems relevant.
Stephens Inc. is serving as sole dealer manager for the Tender
Offer. Investor questions concerning the Tender Offer may be
directed to the information agent, D.F. King & Co., Inc., at
(877) 297-1744 or email globalscape@dfking.com.
About GlobalSCAPE, Inc.
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.
Safe Harbor Statement
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The words
“would,” “exceed,” “should,” “anticipates,” “believe,” “expect,”
and variations of such words and similar expressions identify
forward-looking statements, but their absence does not mean that a
statement is not a forward-looking statement. These forward-looking
statements are based upon the Company’s current expectations and
are subject to a number of risks, uncertainties and assumptions.
The Company undertakes no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise. Among the important factors that could cause the
actual results of the operations or financial condition of the
Company to differ materially from those expressed or implied by
forward-looking statements include, but are not limited to, the
overall level of consumer spending on our products; general
economic conditions and other factors affecting consumer
confidence; disruption and volatility in the global capital and
credit markets; the Company’s ability to protect patents,
trademarks and other intellectual property rights; any breaches of,
or interruptions in, our information systems’ legal, regulatory,
political and economic risks in international markets; the results
of our reduction in force; the discovery of additional information
relevant to the internal investigation; the conclusions of the
Company’s Audit Committee (and the timing of the conclusions)
concerning matters relating to the internal investigation; the
possibility that additional errors relevant to the recently
completed restatement may be identified; pending litigation and
other proceedings and the possibility of further legal proceedings
adverse to the Company resulting from the restatement or related
matters; the costs associated with the restatement and the
investigation, pending litigation and other proceedings and
possible future legal proceedings; reduction in our cash and cash
equivalents as a result of the Tender Offer; and our decreased
“public float” (the number of Shares owned by non-affiliate
stockholders and available for trading in the securities markets)
as a result of the Tender Offer and other share repurchases. More
information on potential factors that could affect the Company’s
financial results is included from time to time in the Company’s
public reports filed with the SEC, including the Company’s Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current
Reports on Form 8-K. All forward-looking statements included in
this press release are based upon information available to the
Company as of the date of this press release and speak only as of
the date hereof.
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GlobalSCAPE Investor Relations
Contactir@GlobalSCAPE.comorGlobalSCAPE Public Relations
ContactZintel Public RelationsMatthew
Zintelmatthew.zintel@zintelpr.com
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