A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
odd lotsfinancial
Shares traded in quantities smaller than a market’s standard batch—typically fewer than 100 shares—are called odd lots. Think of buying a few cookies from a pack instead of the whole box: odd lots are smaller, individual-sized trades that can matter because they may execute less smoothly, face slightly different pricing or visibility, and signal retail-level activity to investors assessing liquidity and demand.
conditional tendersfinancial
An offer by a buyer to purchase shares that only becomes effective if specific conditions are met, such as a minimum number of shares tendered, regulatory approvals, or financing being secured. Like a store sale that only runs if enough customers show up or a loan closes, these conditions determine whether the deal completes, so they affect the likelihood, timing, and certainty that shareholders will actually have their shares bought at the announced price.
proration factorfinancial
A proration factor is the percentage used to scale back how many shares or rights each investor receives when demand exceeds the available supply, such as in an oversubscribed offering or dividend distribution. It matters because it determines the actual number of shares an investor will get and the effective price or value per share they end up with — like cutting a limited number of pizza slices among more people than there are slices, so everyone gets a proportional piece.
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Optimum Subsidiary Acquires 120,000,000 Shares at $2.50 Per Share
NEW YORK--(BUSINESS WIRE)--
CSC Investments II LLC, a Delaware limited liability company (“CSC Investments II”) and a wholly owned subsidiary of Optimum Communications, Inc. (NYSE: OPTU) (“Optimum”), today announced the final results of its tender offer, which expired at 5:00 p.m., New York City time, on June 30, 2026.
Based on the final count by Equiniti Trust Company, LLC, the depositary for the tender offer (the “Depositary”), a total of 246,605,915 shares of Optimum’s Class A Common Stock, par value $0.01 per share (each share of Optimum’s Class A Common Stock, a “Share,” and collectively, the “Shares”), were validly tendered and not validly withdrawn at the purchase price of $2.50 per Share.
In accordance with the terms and conditions of the tender offer, CSC Investments II accepted for purchase a total of 120,000,000 Shares, representing 42.5% of the Shares issued and outstanding as of June 30, 2026 (after giving effect to the Private Exchange Transaction (as defined in the Offer to Purchase)), at the purchase price of $2.50 per Share, for an aggregate purchase price of $300,000,000, excluding fees and expenses relating to the tender offer.
Because the number of Shares validly tendered and not validly withdrawn exceeded the number of Shares sought in the tender offer, Shares were accepted for purchase on a pro rata basis, except for tenders of “odd lots,” which were accepted in full, and conditional tenders that were automatically regarded as withdrawn because the condition was not satisfied.CSC Investments II has been informed by the Depositary that the final proration factor for the tender offer is approximately 48.6%. The Depositary will promptly pay for all the Shares accepted for purchase pursuant to the tender offer on or about July 7, 2026. Payment for Shares will be made in cash, subject to applicable withholding and without interest. All other Shares tendered and not purchased will be returned promptly.
About Optimum Communications
Optimum Communications, Inc. (NYSE: OPTU) is one of the largest broadband communications and video services providers in the United States, delivering broadband, video, mobile, proprietary content and advertising services to approximately 4.3 million residential and business customers across 21 states through its Optimum brand. We operate Optimum Media, an advanced advertising and data business, which provides audience-based, multiscreen advertising solutions to local, regional and national businesses and advertising clients. We also operate News 12, which is focused on delivering best-in-class hyperlocal news content.
