Business
Verisk Analytics, Inc. Announces Early Results of Its Tender Offer
JERSEY CITY, N.J., June 05, 2024 (GLOBE NEWSWIRE) -- Verisk Analytics, Inc. (Nasdaq: VRSK) (“Verisk” or the “Company”), a leading global data analytics and
About this update from Verisk Analytics, Inc.
[{"type":"text","content":"JERSEY CITY, N.J., June 05, 2024 (GLOBE NEWSWIRE) -- Verisk Analytics, Inc. (Nasdaq: VRSK) (“Verisk” or the “Company”), a leading global data analytics and technology provider, today announced the results as of 5:00 p.m., New York City time, on June 4, 2024 (the “Early Tender Date”) of its previously announced cash tender offer (the “Tender Offer”) for up to $400,000,000 aggregate principal amount (the “Maximum Amount”) of its 4.000% Senior Notes due 2025 (the “Notes”). The Tender Offer is being made upon the terms and subject to the conditions set forth in the Offer to Purchase dated May 21, 2024 (as amended or supplemented from time to time, the “Offer to Purchase”), which sets forth a detailed description of the Tender Offer. The Tender Offer is open to all registered holders (individually, a “Holder” and collectively, the “Holders”) of Notes. The Early Tender Date results are summarized in the table below: Title of NotesCUSIP / ISIN NumberAggregate Principal Amount OutstandingPrincipal Amount TenderedPrincipal Amount Expected to be Accepted for PurchaseUST Reference SecurityBloomberg Reference Page(1)Fixed Spread (bps)Early Tender Payment(2)4.000% Senior Notes due 2025 92345YAD8/US92345YAD85$900,000,000 $469,627,000 $400,000,000 2.875% UST due 6/15/2025FIT420$30 (1) The page on Bloomberg from which the Dealer Manager (as defined below) will quote the bid side price of the U.S. Treasury Security. In the above table, “UST” denotes a U.S. Treasury Security.(2) Per $1,000 principal amount of Notes validly tendered at or prior to the Early Tender Date and accepted for purchase. The consideration to be paid in the Tender Offer for Notes validly tendered and expected to be accepted for purchase as described in the Offer to Purchase (the “Total Consideration”) will be determined at 10:00 a.m., New York City time, on June 5, 2024. The company has been advised by D.F. King & Co., Inc., the tender and information agent for the Tender Offer (the “Tender and Information Agent”) that, as of the Early Tender Date, the principal amount of Notes listed in the table above have been validly tendered and not validly withdrawn. The withdrawal deadline of 5:00 p.m., New York City time, June 4, 2024 (the “Withdrawal Deadline”) has passed and, accordingly, Notes validly tendered in the Tender Offer may no longer be withdrawn. The Company expects to...