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Stock Market & Financial Investment News

News Breaks
January 10, 2013
13:01 EDTTCXTucows announces final results of Dutch tender offer
Tucows announced today the final results of its modified "Dutch auction" tender offer, which expired at 5:00 p.m., New York City time, on January 4. Tucows will purchase 4,114,121 shares of its Common Stock at a purchase price of $1.50 per share, for a total cost of $6,171,182, excluding fees and expenses related to the tender offer. Payment for shares accepted for purchase will be funded partly in cash and from two demand loan facilities Tucows currently has with the Bank of Montreal. The 4,114,121 shares accepted for purchase in the tender offer represent approximately 9.3% of Tucows' currently issued and outstanding Common Stock. As a result of the completion of the tender offer and immediately following payment of the tendered shares, Tucows will have approximately 40,215,688 shares issued and outstanding.
News For TCX From The Last 14 Days
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December 16, 2014
16:03 EDTTCXTucows subsidiary to acquire 70% stake in Blue Ridge
Ting Fiber, or TFI, a wholly owned subsidiary of Tucows, announced that it has entered into a definitive agreement to acquire 70% ownership of an independent Internet service provider in Charlottesville, Virginia doing business primarily as Blue Ridge InternetWorks. BRI provides high speed Internet access, Internet hosting and network consulting services to over 3,000 customers in Central Virginia. TFI will acquire 70% of the newly formed Ting Virginia and its acquired subsidiaries, Blue Ridge Websoft, Fiber Roads and Navigator Network Services. The remaining 30% interest in Ting Virginia, which is subject to certain Call and Put Options, will be retained by the current owners of the BRI Group. The founders of the BRI Group will remain with the company. The price and terms of the acquisition were not announced. The acquisition is subject to regulatory approvals and other customary closing conditions and is expected to close during the Q1 of 2015.
December 8, 2014
07:03 EDTTCXTucows Inc commences Dutch Auction Tender Offer
Tucows Inc. announced that it is commencing its "modified Dutch auction Tender Offer" to repurchase a number of its common stock not to exceed an aggregate purchase price of $8.0M, as previously announced on November 12. The closing price of Tucows common stock on the NASDAQ on December 5 was $17.45. Under the Tender Offer, shareholders will have the opportunity to tender some or all of their shares at a price within the range of $16.50-$18.50 per share. Based on the number of shares tendered and the prices specified by the tendering shareholders, Tucows will determine the lowest per share price within the range that will enable it to buy up to $8.0M worth of shares, or such lesser number of shares that are properly tendered. Assuming that the offer is fully subscribed, if the Purchase Price is determined to be $16.50 per share, the minimum Purchase Price under the Tender Offer, the approximate number of shares that will be purchased under the offer is 484,848. Assuming that the Tender Offer is fully subscribed, if the Purchase Price is determined to be $18.50 per share, the maximum Purchase Price under the offer, the approximate number of shares that will be purchased under the offer is 432,432. If more than $8.0 million worth of shares are properly tendered, the number of shares to be repurchased by Tucows pursuant to the tender offer may, at the discretion of Tucows, be increased by up to 2% of Tucows' outstanding shares, without amending or extending the tender offer. Rawleigh Ralls, a director of Tucows, has advised Tucows that he expects to sell up to 75,000 shares in the Tender Offer.

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