USA: Big Dog Announces Share Offer Results
Big Dog Holdings Inc (Nasdaq:BDOG; www.bigdogs.com ) today announced the final results of its previously announced cash tender offer to purchase 3,500,000 of its common shares at a price per share of $6.25. The cash tender offer expired at 9 am Pacific time on August 30, 2000. A total of 6,943,926 common shares were tendered and delivered pursuant to the offer, of which the company accepted for payment 3,500,208 common shares. The company, pursuant to the terms of the offer, accepted slightly more than 3.5 million shares in order to avoid issuing fractional shares. Because the offer was oversubscribed, a proration factor of 50.4 per cent for the tendered shares has been applied. Immediately before giving effect to the cash tender offer, the company had approximately 11,983,450 common shares outstanding. As a result of the completion of the cash tender offer, the company will have approximately 8,483,242 common shares outstanding as of the time immediately following payment for the tendered shares accepted for payment.
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