Data Storage Corp (NASDAQ: DTST) plans tender offer for 6,192,990 shares
Rhea-AI Filing Summary
Data Storage Corporation announced that it intends to begin a cash tender offer to purchase up to 6,192,990 shares of its common stock at $5.20 per share, for a maximum aggregate purchase price of up to $32,203,548, less any applicable withholding taxes and without interest.
The company stated that the tender offer has not yet commenced and will be made only pursuant to an Offer to Purchase and related documents that will be sent to stockholders and filed with the SEC. Stockholders are urged to read those materials carefully and in their entirety when they become available, because they will contain important information about the terms and conditions of the tender offer.
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Insights
Issuer plans cash tender offer for up to 6,192,990 shares at
Data Storage Corporation disclosed an intended cash tender offer to purchase up to 6,192,990 shares of its common stock at
The disclosure explains that the actual offer will be made only through an Offer to Purchase and related documents that will be sent to stockholders and filed with the SEC. The final impact of this action will depend on how many shares are tendered and accepted within the stated limits of the offer.
FAQ
What corporate action did Data Storage Corporation (DTST) disclose?
Data Storage Corporation disclosed that it intends to commence a cash tender offer to purchase up to 6,192,990 shares of its common stock at $5.20 per share.
How many DTST shares are included in the planned tender offer?
The planned tender offer covers up to 6,192,990 shares of Data Storage Corporation's common stock.
What price will Data Storage Corporation pay in the tender offer?
The company plans to pay $5.20 per share in cash, less any applicable withholding taxes and without interest, for shares tendered and accepted.
What is the maximum total amount Data Storage Corporation may spend in the tender offer?
The maximum aggregate purchase price for the tender offer is up to $32,203,548, based on the stated share cap and price.
Has the Data Storage Corporation tender offer started yet?
No. The company states that the tender offer described has not yet commenced. It will begin only after the Offer to Purchase and related documents are made available.
Where can DTST stockholders obtain the tender offer documents?
Once available, stockholders can obtain the Offer to Purchase and related documents free of charge from the SEC's website (www.sec.gov) or from the company as described in the press release attached as Exhibit 99.1.