Actuate announces final results of Dutch auction tender offer

By Lisa Kerner

Charlotte, N.C., Dec. 29 - Actuate Corp. said it will purchase 17,142,857 shares, or 28.5%, of its outstanding common stock at $3.50 per share for a total cost of $60 million in the Dutch auction tender offer that ended Dec. 18.

The results are based on a final count by Computershare, Inc., a company news release said.

About 20.7 million shares of common stock, including shares tendered by notice of guaranteed delivery, were properly tendered and not withdrawn at prices in the range of $3.00 to $3.50 per share, Actuate said.

The proration rate for the offer is approximately 83%, according to the release.

Actuate said it would purchase for cash up to a maximum of $60 million of its common stock in the offer.

Jefferies and Co. was the dealer manager, and the information agent was 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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