iMergent Announces Preliminary Results of Tender Offer
December 13 2010 - 9:28AM
iMergent, Inc. (AMEX:IIG), a leading provider of eCommerce
software, site development, web hosting and search engine
optimization for businesses and entrepreneurs, today announced the
preliminary results of its modified "Dutch Auction" tender offer,
which expired at 11:59 p.m., New York City time, on December 10,
2010. Based on the preliminary count 724,596 shares were properly
tendered and not withdrawn at a price at or below $4.75. Based on
these preliminary results, iMergent expects to purchase 724,596
common shares, at a price of $4.75 per common share for a total
cost of $3,441,831, excluding fees and expenses relating to the
tender offer.
The number of shares to be purchased and price per share under
the tender offer are preliminary. Final results will be determined
subject to confirmation by the depositary of the proper delivery of
the shares validly tendered and not withdrawn. The actual number of
shares to be purchased and the price per share will be announced
following the completion of the confirmation process. Payment for
the shares accepted for purchase, and the return of all other
shares tendered and not purchased, will occur promptly thereafter.
iMergent will fund the purchase of the shares in the tender offer
using cash.
iMergent expects to have approximately 10,677,745 million shares
of its common stock outstanding as of the time immediately
following payment for the accepted shares. iMergent expects that
the number of outstanding common shares will have been reduced by
approximately 6.4% as a result of the purchases in the tender
offer
The Depositary for the tender offer was Direct Transfer, LLC.
Phoenix Advisory Partners, acted as information agent for the
tender offer. Shareholders and investors who have questions or need
information about the tender offer may call Phoenix Advisory
Partners toll-free at (800) 576-4314 or (212) 493-3910.
THIS PRESS RELEASE IS FOR INFORMATIONAL PURPOSES ONLY AND DOES
NOT CONSTITUTE AN OFFER TO PURCHASE OR THE SOLICITATION OF AN OFFER
TO SELL SHARES OF iMERGENT COMMON STOCK. THE TENDER OFFER IS BEING
MADE ONLY PURSUANT TO THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL
AND RELATED MATERIALS THAT iMERGENT HAS DISTRIBUTED TO ITS
STOCKHOLDERS AND FILED WITH THE SECURITIES AND EXCHANGE COMMISSION.
STOCKHOLDERS AND INVESTORS SHOULD READ CAREFULLY THE OFFER TO
PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS BECAUSE THEY
CONTAIN IMPORTANT INFORMATION, INCLUDING THE VARIOUS TERMS OF, AND
CONDITIONS TO, THE TENDER OFFER.
About iMergent
iMergent provides eCommerce solutions to entrepreneurs and
businesses enabling them to market and sell their business products
or ideas via the Internet. The company sells its proprietary
software and training services which help users build Internet
strategies to allow entrepreneurs and businesses to market and sell
their products, accept online orders, analyze marketing performance
and manage pricing and customers over the Internet. In addition to
software and training, iMergent offers site development, web
hosting and search engine optimization (SEO). iMergent,
StoresOnline and Crexendo Business Solutions, Inc. are trademarks
of iMergent, Inc.
Safe Harbor Statement
This press release contains forward-looking statements. The
Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" for such forward-looking statements. The words "believe,"
"expect," "anticipate," "estimate," "will" and other similar
statements of expectation identify forward-looking statements.
Specific forward-looking statements in this press release include
information about the expected timing of the completion of the
tender offer. Shareholders are cautioned not to place undue
reliance on these forward-looking statements. Actual results could
differ materially from those currently anticipated due to a number
of risks and uncertainties.
Risks and uncertainties related to the tender offer that could
cause results to differ from expectations include: uncertainties as
to the timing of the completion of the tender offer; uncertainties
as to how many of iMergent Inc.'s shareholders will tender their
shares in the tender offer; and the risk of shareholder litigation
in connection with the tender offer.
CONTACT: iMergent, Inc.
Steven G. Mihaylo
(775) 530-3955
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