WebMD Health Announces Final Results Of Tender Offer - Quick Facts

(RTTNews) - Health information services provider WebMD Health Corp. (WBMD) Monday revealed the final results of its tender offer to purchase up to 5 million shares of its common stock at a price of $34.00 per share, which expired on September 10.

WebMD has accepted for purchase 5 million shares of its common stock, including all "odd lots" properly tendered, at a purchase price of $34.00 per share, for an aggregate purchase price of $170 million.

Based on the final tabulation, about 26.1 million shares of WebMD Common Stock were properly tendered and neither withdrawn nor tendered conditionally by stockholders with conditions that were not met.

WebMD has been informed by American Stock Transfer & Trust Co., the Depositary for the tender offer, that, after giving effect to the priority for an aggregate amount of approximately 522,000 "odd lot" shares, the final proration factor is about 17.5%.

The Depositary will promptly issue payment for the shares validly tendered and accepted for purchase and will return all other shares tendered.

Immediately following the purchase of the tendered shares, WebMD expects to have about 45.8 million shares of its common stock outstanding and to have about $880 million in cash and cash equivalents.