IMergent Announces Preliminary Results Of Tender Offer
PHOENIX, Dec. 13, 2010 (GLOBE NEWSWIRE) -- iMergent, Inc. (AMEX:IIG), a leading provider of eCommerce software, site development, web hosting and search engine optimization for businesses and entrepreneurs, today announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 11:59 p.m., New York City time, on December 10, 2010. Based on the preliminary count 724,596 shares were properly tendered and not withdrawn at a price at or below $4.75. Based on these preliminary results, iMergent expects to purchase 724,596 common shares, at a price of $4.75 per common share for a total cost of $3,441,831, excluding fees and expenses relating to the tender offer.
The number of shares to be purchased and price per share under the tender offer are preliminary. Final results will be determined subject to confirmation by the depositary of the proper delivery of the shares validly tendered and not withdrawn. The actual number of shares to be purchased and the price per share will be announced following the completion of the confirmation process. Payment for the shares accepted for purchase, and the return of all other shares tendered and not purchased, will occur promptly thereafter. iMergent will fund the purchase of the shares in the tender offer using cash.
iMergent expects to have approximately 10,677,745 million shares of its common stock outstanding as of the time immediately following payment for the accepted shares. iMergent expects that the number of outstanding common shares will have been reduced by approximately 6.4% as a result of the purchases in the tender offerThe Depositary for the tender offer was Direct Transfer, LLC. Phoenix Advisory Partners, acted as information agent for the tender offer. Shareholders and investors who have questions or need information about the tender offer may call Phoenix Advisory Partners toll-free at (800) 576-4314 or (212) 493-3910.
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