Xoom Stockholders Approve Planned Acquisition
September 04 2015 - 4:01PM
Business Wire
Xoom Corporation (NASDAQ:XOOM), a leading digital money transfer
provider, today announced that Xoom stockholders voted to approve
the previously announced definitive agreement, dated as of July 1,
2015, pursuant to which PayPal, Inc. will acquire Xoom. At a
special meeting held earlier today, approximately 95.17% of Xoom
shares represented at the meeting were voted in favor of the
agreement.
Pursuant to the agreement, PayPal will acquire Xoom for $25 per
share in cash, without interest and less any applicable withholding
taxes. The transaction remains subject to the satisfaction or
waiver of customary closing conditions and the receipt of certain
regulatory consents relating to Xoom’s money transmitter
licenses.
About Xoom
Xoom is a leading digital money transfer provider that enables
consumers to send money, pay bills and send prepaid mobile phone
reloads for family and friends around the world in a secure, fast
and cost-effective way, using their mobile phone, tablet or
computer. During the 12 months ended June 30, 2015, Xoom’s more
than 1.4 million active customers sent approximately $6.9 billion
with Xoom. The company is headquartered in San Francisco and can be
found online at www.xoom.com.
Cautionary Statement Regarding Forward-Looking
Statements
This document contains certain forward-looking statements about
Xoom, including statements that involve risks and uncertainties
concerning PayPal’s proposed acquisition of Xoom. When used in this
document, the words “anticipates”, “can”, “will”, “look forward
to”, “expected” and similar expressions and any other statements
that are not historical facts are intended to identify those
assertions as forward-looking statements. Any such statement may be
influenced by a variety of factors, many of which are beyond the
control of Xoom, that could cause actual outcomes and results to be
materially different from those projected, described, expressed or
implied in this document due to a number of risks and
uncertainties. Potential risks and uncertainties include, among
others, the possibility that the transaction will not close or that
the closing may be delayed, the potential effects of disruption to
Xoom’s business from the pending Merger, and the possibility that
Xoom may be adversely affected by other economic, business, and/or
competitive factors. Accordingly, no assurances can be given that
any of the events anticipated by the forward-looking statements
will transpire or occur, or if any of them do so, what impact they
will have on the results of operations or financial condition of
Xoom. In addition, please refer to the documents that Xoom files
with the SEC which identify and address other important factors
that could cause results to differ materially from those contained
in the forward-looking statements set forth in this document. You
are cautioned to not place undue reliance on forward-looking
statements, which speak only as of the date of this document.
Except as required by applicable law, Xoom does not undertake any
duty to update any of the information in this document.
(Xoom-f)
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150904005671/en/
Xoom CorporationSharrifah Al-Salem, CFA, 415-660-1256Director of
Investor RelationsIR@xoom.com
XOOM CORP (NASDAQ:XOOM)
Historical Stock Chart
From Jul 2024 to Aug 2024
XOOM CORP (NASDAQ:XOOM)
Historical Stock Chart
From Aug 2023 to Aug 2024