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News Breaks | | | | September 11, 2012 | | 08:45 EDT |  | SRDX | SurModics announces final results of modified Dutch tender offer
SurModics announced the final results of its modified Dutch auction tender offer for up to $55M in value of its common stock, which expired at 5:00 p.m., New York City time, on Wednesday, September 5. In accordance with the terms and conditions of the tender offer, SurModics has accepted for purchase 2,894,736 shares of its common stock at a price of $19.00 per share, for an aggregate cost of $55M, excluding fees and expenses relating to the tender offer. These shares represent approximately 16.5% of SurModics’ currently outstanding common stock. Based on the final count by American Stock Transfer & Trust Company, LLC, the Depositary for the tender offer, approximately 2.93 million shares of SurModics’ common stock were properly tendered and not properly withdrawn at or below the purchase price of $19.00 per share. | |
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