Aware buys 15% of its common stock in tender offer ended April 17

By Lisa Kerner

Charlotte, N.C., April 24 - Aware, Inc. said it accepted for purchase 3,500,252 shares, or approximately 15%, of its outstanding common stock in its Dutch auction tender offer that ended April 17.

The company paid $2.50 per share for a total of $8.75 million, excluding fees and expenses relating to the tender offer, an Aware news release said.

According to Aware, the shares purchased include 252 shares that it elected to purchase under its right to purchase up to an additional 2% of the shares outstanding.

Aware said it would purchase up to 3.5 million shares in the offer.

In early April, Aware amended its Dutch auction tender offer, narrowing the price range to between $2.20 and $2.60 per share, and extended the deadline to 5 p.m. ET on April 17 at the request of the Securities and Exchange Commission, an Aware news release said.

Originally, Aware's minimum purchase price was $1.80 per share.

Aware expects that approximately 19,780,952 shares of its common stock will be issued and outstanding following payment for the accepted shares.

The dealer manager for the offer was Georgeson Securities Corp., and the information agent was Georgeson Inc.

Aware provides technology and software for the telecommunications and biometrics industries. The company is based in Bedford, Mass.

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