AvePoint Initiates Offer to Purchase Outstanding Warrants
AvePoint (Nasdaq: AVPT, AVPTW), the global leader in robust data management and governance, has announced its initiative to commence an offer for the purchase of all outstanding public warrants to purchase shares of its common stock. The purchase price is set at $2.50 in cash for each warrant, not including interest.
Consent Solicitation for Warrant Agreement Amendment
Alongside the offer, AvePoint is soliciting consents for an amendment to the Warrant Agreement. The amendment would enable the Company to redeem each outstanding warrant for $2.00 in cash, which represents a 20% decrease from the offer price. For this amendment to be adopted, at least 50.1% of the current warrant holders must provide their consent.
Warrant Amendment Adoption Conditions
Should more than 50.1% of warrant holders consent to the amendment, it can be adopted even if the Offer's other conditions are not fulfilled or are waived. This will facilitate a simplified process for warrant holders to make crucial decisions regarding their investments.
Offer Timeline and Conditions
The offer is scheduled to remain open until midnight Eastern Time on the predetermined expiration date. Warrant holders will retain the option to withdraw tendered warrants anytime prior to this expiration. Importantly, the Offer is not conditioned on acquiring a minimum number of warrants, although it remains subject to specific outlined conditions.
Role of Engaged Parties
AvePoint has appointed Evercore Group L.L.C. as the Dealer Manager for this Offer and Consent Solicitation. Additionally, Sodali & Co. serves as the Information Agent, while Continental has been designated as the Warrant Agent, responsible for managing and facilitating inquiries regarding the tender process and additional materials related to the Offer.
Related Documents and Information
Interested parties can access the Offer details, including the Schedule TO and Offer to Purchase, which have been filed with the U.S. Securities and Exchange Commission (SEC). Although available free of charge, careful review of these documents is advised prior to making investment decisions.
About AvePoint
AvePoint distinguishes itself as a premier leader in data management and governance, with over 21,000 global customers depending on its solutions to innovate their workplace environments across various platforms, including Microsoft, Google, and Salesforce. The Company's extensive channel partner program includes over 3,500 service providers and systems integrators, contributing to a presence in over 100 cloud marketplaces. With a focus on enhancing digital workplace experiences, AvePoint continues to expand its capabilities and service offerings.
Frequently Asked Questions
What is the main purpose of AvePoint's offer?
AvePoint's offer aims to purchase all outstanding public warrants at a price of $2.50 each, providing an opportunity for warrant holders to liquidate their investments.
What conditions must be met for the Warrant Amendment?
The Warrant Amendment will require consent from at least 50.1% of the current warrant holders to be adopted.
When does the Offer to Purchase expire?
The Offer will expire at midnight Eastern Time on the specified expiration date, pending extensions or early terminations by AvePoint.
Who can warrant holders contact for more information?
Warrant holders can contact Sodali & Co. for questions and additional information related to the tender process at the toll-free number provided in the announcement.
What are AvePoint's market symbols?
AvePoint's common stock and Warrants are traded on The Nasdaq Stock Market LLC under the symbols “AVPT” and “AVPTW,” respectively.
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