Business
Marchex Announces Intent to Conduct Joint Tender Offer with Edenbrook Capital
SEATTLE--(BUSINESS WIRE)-- Marchex (NASDAQ: MCHX), a leading conversational analytics company that connects the voice of the customer to your business,
About this update from Marchex, Inc.
[{"type":"text","content":" SEATTLE--(BUSINESS WIRE)--\nMarchex (NASDAQ: MCHX), a leading conversational analytics company that connects the voice of the customer to your business, announced today the intent to launch a joint and equal tender offer with Edenbrook Capital, LLC (“Edenbrook”) to purchase up to 10.0 million shares of Marchex’s Class B common stock (the “Shares”) according to the following terms:\n\n\n\nif up to 6.0 million shares are tendered, a purchase price per share of $1.80; and\n\n\nif 6.0 million to 10.0 million shares are tendered, a purchase price per share of $1.96.\n\n\n\nThe offer to purchase the Shares is expected to commence in the next few weeks and is expected to expire in early October 2020, unless extended. The offer will not be conditioned on any minimum number of Shares being tendered.\n\n\nIf the tender offer is fully subscribed, Marchex and Edenbrook will have purchased approximately 25% of Marchex’s outstanding Class B common stock as of the date hereof.\n\n\nWhile Marchex’s board of directors has authorized Marchex to make the tender offer, neither Marchex nor its board of directors makes any recommendation to any stockholder as to whether to tender or refrain from tendering any Shares. Marchex has not authorized any person to make any such recommendation. Stockholders must decide whether to tender their Shares and, if so, how many Shares to tender. In doing so, stockholders should carefully evaluate all of the information in the tender offer documents, when available, before making any decision with respect to the tender offer and should consult their own broker or other financial and tax advisors.\n\n\nForward-Looking Statements\n\n\nCertain statements included above contain forward-looking statements that involve substantial risks and uncertainties. All statements, other than statements of historical facts, included herein regarding the commencement, expiration or terms of the tender offer, the number of shares tendered, our strategy, future operations, future financial position, future revenues, other financial guidance, acquisitions, dispositions, projected costs, prospects, plans and objectives of management are forward-looking statements. We may not actually achieve the plans, intentions, or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking st...