Ziff Davis gives early tender results of partial offer for 4 5/8% notes due 2030

By Rebecca Melvin

Concord, N.H., Oct. 8 – Ziff Davis Inc., formerly J2 Global, Inc., announced the early results of a Sept. 24 partial tender offer for up to $90 million of $750 million outstanding 4 5/8% senior notes due 2030 (Cusips: 48123VAF9, U52503AB2).

As of the early deadline at 5 p.m. ET on Oct. 7, $639,101,000 aggregate principal amount of the notes had been validly tendered and $83,333,000 were accepted for a proration factor of 13.08%, according to a press release on Friday.

The maximum purchase price is $89,999,640.

The company is offering to pay $1,080 per $1,000 note, including a $50 early tender premium.

Interest will also be paid to the applicable settlement date.

The settlement dates will be two business days after the early tender deadline and two business days after the expiration time.

The tender offer will expire at 11:59 p.m. ET on Oct. 22.

The tender offer was conditioned upon the consummation of the separation of the company into two separate publicly traded companies: Ziff Davis, Inc. and Consensus Cloud Solutions, Inc. The separation was completed on Oct. 7.

Citigroup Global Markets Inc. is the dealer manager (800 558-3745, 212 723-6106).

Global Bondholder Services, Inc. is the information agent and tender agent (866 807-2200, 212 430-3774).

Ziff Davis is a digital media and internet services company based in New York.

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