Actuate expects to buy 28.5% of its stock in offer ended Thursday

By Lisa Kerner

Charlotte, N.C., Dec. 19 - Actuate Corp. said based on a preliminary count, it will purchase $60 million worth, or 28.5%, of its common stock at about $3.50 per share.

The company's modified Dutch auction tender offer ended at midnight ET on Dec. 18. It began on Nov. 5.

As previously reported, Actuate amended its offer to purchase up to $60 million of its stock at a price per share not less than $3.00 and not greater than $3.50. Before that, it was offering not less than $2.20 and not greater than $2.60. Originally, Actuate said it was offering not less than $3.15 and not greater than $3.40.

Final results of the offer and the proration factor will be confirmed by the depositary, Computershare, Inc., according to an Actuate news release.

Information agent for the offer is D.F. King & Co., Inc. (800 676-7437).

Actuate provides software and services for business intelligence, performance management and reporting applications. The company is based in San Mateo, Calif.

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