Altaba Announces Alibaba VWAP And Cash Portion Payable For Shares Pursuant To Tender Offer To Purchase Up To 195,000,000 Shares
ALTABA INC (AABA)
US:NASDAQ Investor Relations:
altaba.com/investor-relations
Company Research
Source: PR Newswire
NEW YORK, Aug. 6, 2018 /PRNewswire/ -- Altaba Inc. ("Altaba" or the "Fund") (NASDAQ: AABA) announced today the Alibaba VWAP (as described below) and the cash portion of the offer consideration payable for shares in connection with its previously announced tender offer to purchase up to 195,000,000 (approximately 24%) shares of its common stock, at a price per share equal to (i) 0.35 American Depository Shares ("Alibaba ADSs") of Alibaba Group Holding Limited, a Cayman Islands company ("Alibaba"), which are held by the Fund in its investment portfolio, less any Alibaba ADSs withheld to satisfy applicable withholding taxes and subject to adjustment for fractional Alibaba ADSs, and (ii) an amount in cash equal to the Alibaba VWAP multiplied by 0.05, less any cash withheld to satisfy applicable withholding taxes and without interest. The tender offer is scheduled to expire on August 8, 2018 at 5:00 p.m., New York City time, unless the tender offer is extended or withdrawn by the Fund. Unl
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