Optimum Subsidiary Announces Preliminary Results of Tender Offer for Shares of Optimum’s Class A Common Stock
Optimum's subsidiary, CSC Investments II LLC, announced the preliminary results of its tender offer for Optimum's Class A common stock. The offer was oversubscribed, with approximately 254.96 million shares tendered at $2.50 per share; the company expects to purchase 120 million shares for an aggregate cost of $300 million.
Key figures
- Aggregate cost
- 300000000
- Purchase price
- 2.5
- Shares accepted
- 120000000
- Shares tendered
- 254956213
- Proration factor
- 47.1%
- Percent outstanding
- 42.5%
AI analysis
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