Western Capital Resources, Inc. Announces Expiration and Results of Tender Offer

Rhea-AI Summary

Western Capital Resources (WCRS) has completed its tender offer for common stock shares, which expired on April 17, 2025. The company accepted 680,087 shares for purchase, representing approximately 7.7% of total outstanding shares. This amount exceeded the initial maximum target by 13,421 shares, leading Western Capital to amend the offer to accommodate all valid tenders.

The company will fund the share purchases using available cash on hand. Following the completion of the tender offer, Western Capital will have approximately 8,143,000 shares of Common Stock remaining outstanding. The payment for tendered shares will be made in cash without interest through Equiniti Trust Company, , the depositary for the tender offer.

Positive

• Company has sufficient cash reserves to fund the share repurchase
• Successful completion of tender offer reducing shares outstanding by 7.7%

Negative

• Tender offer exceeded initial maximum target, requiring amendment

OMAHA, Neb., April 18, 2025 /PRNewswire/ -- Western Capital Resources, Inc. ("Western Capital") announced the expiration and final results of its tender offer for shares of its Common Stock. The tender offer expired at 5:00 P.M., New York City time, on April 17, 2025, at which time shareholders had validly tendered in the tender offer, and not withdrawn, 680,087 shares of Western Capital's Common Stock, which was 13,421 shares above the prior maximum number of shares being sought in the tender offer.

Western Capital is amending the tender offer to increase the maximum number of shares of its Common Stock that it may purchase in the tender offer to 680,087 shares and has accepted for purchase 680,087 shares of its Common Stock. The shares purchased pursuant to the tender offer represent approximately 7.7% of the total number of shares of Common Stock issued and outstanding as of April 18, 2025. Western Capital funded the purchase of the shares in the tender offer from cash on hand.

Because the increase in the size of the tender offer of 13,421 shares represents less than 2% of the outstanding shares of its Common Stock, Western Capital is not extending the tender offer, which expired at 5:00 P.M., New York City time, on April 17, 2025.

Equiniti Trust Company, LLC, the depositary for the tender offer, will promptly pay for the shares of Common Stock accepted for purchase. Payment for the shares will be made in cash, without interest. Upon completion of the tender offer, Western Capital will have approximately 8,143,000 shares of Common Stock issued and outstanding.

D.F. King & Co., Inc. serves as information agent for the tender offer. Questions and requests for assistance may be directed to the information agent at Collect: (212) 256-9073 or Toll-Free: (866) 620-2536.

FAQ

How many shares did Western Capital Resources (WCRS) purchase in its April 2025 tender offer?

Western Capital Resources purchased 680,087 shares of common stock, representing 7.7% of total outstanding shares.

What is the remaining share count for WCRS after the April 2025 tender offer?

After completing the tender offer, Western Capital Resources will have approximately 8,143,000 shares of Common Stock outstanding.

How is Western Capital Resources funding the tender offer purchase?

Western Capital Resources is funding the share purchases using cash on hand.

Did WCRS extend the tender offer deadline beyond April 17, 2025?

No, WCRS did not extend the tender offer as the increase of 13,421 shares represented less than 2% of outstanding shares.