Current Price – $7.87
Offer Price – $7.75
Upside – N/A
Expiration date – 8 June 2016
No proration for holders of less than 100 shares
TechTarget, Inc., a Delaware corporation is offering to purchase up to 8,000,000 shares of its common stock, par value $0.001 per share at a price of $7.75 per share. We will purchase up to 8,000,000 shares in the Offer (representing approximately 24.8% of our issued and outstanding shares as of May 6, 2016).
Odd lot holders
If you own beneficially or of record fewer than 100 shares in the aggregate, you properly tender all of those shares before the Offer expires and you complete the Section entitled “Odd Lots” in the Letter of Transmittal and, if applicable, in the Notice of Guaranteed Delivery, we will purchase all of your shares without subjecting them to the proration procedure.
Source and amount of funds
Assuming that 8,000,000 shares are purchased in the Offer at a price of $7.75 per share, the aggregate purchase price will be $62 million. We expect that expenses for the Offer will be approximately $200,000. We anticipate that we will pay for the shares tendered in the Offer and all expenses applicable to the Offer from $50 million in proceeds from our new senior secured credit facility.