Copart Announces Final Results of Its Tender Offer
July 10 2015 - 8:00AM
Business Wire
Copart Acquires 6,254,061 Shares at $36.00 Per
Share
Copart, Inc. (NASDAQ:CPRT) today announced the final results of
its modified “Dutch Auction” tender offer, which expired at 5:00
p.m., New York City time, on Monday, July 6, 2015.
Based on the final count by the depositary for the tender offer,
Copart accepted for payment an aggregate of 6,254,061 shares of its
common stock at a purchase price of $36.00 per share for a total
value of $225.1 million. These shares represent approximately 4.9
percent of the shares issued and outstanding. The depositary will
promptly pay for the shares accepted for purchase.
The self-tender offer was made pursuant to an Offer to Purchase
and Letter of Transmittal, each dated June 4, 2015, in which the
Company offered to purchase up to 13,888,888 shares at a price not
greater than $36.00 per share and not less than $34.75 per share,
filed with the Securities and Exchange Commission on June 4, 2015,
as amended on June 24, 2015 and July 7, 2015.
The information agent is Georgeson Inc. and the depositary is
Computershare Trust Company, N.A. For questions and information
regarding the tender offer, please call the information agent at
1-800-932-9864.
About Copart
Copart, founded in 1982, provides vehicle sellers with a full
range of remarketing services to process and sell salvage and clean
title vehicles to dealers, dismantlers, rebuilders, exporters and,
in some states, to end users. Copart remarkets the vehicles through
Internet sales utilizing its VB3 technology. Copart sells vehicles
on behalf of insurance companies, banks, finance companies, fleet
operators, dealers, car dealerships and others as well as cars
sourced from the general public. The company currently operates in
the United States and Canada (www.copart.com), the United Kingdom
(www.copart.co.uk), Brazil (www.copart.com.br), Germany
(www.copart.de), the United Arab Emirates and Bahrain
(www.copartmea.com), and Spain (www.autoresiduos.com). Copart links
sellers to more than 750,000 members in over 150 countries
worldwide through its multi-channel platform. Copart was recently
ranked at the top of Deloitte's "Exceptional 100" list of
companies, which reviewed U.S. publicly traded companies based upon
a multidimensional approach to measuring financial performance. For
more information, or to become a Member, visit www.copart.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150710005116/en/
Copart, Inc.Wendy Ganey, 972-391-5043Assistant to the Chief
Financial Officerwendy.ganey@copart.com
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