GameStop Announces Expiration of Tender Offer
July 14 2015 - 9:00AM
Business Wire
GameStop Corp. (NYSE: GME) today announced the expiration of its
tender offer (the “Offer”) to purchase all outstanding shares of
Geeknet, Inc. (NASDAQ: GKNT) for $20.00 per share in cash (the
“Offer Price”). The Offer expired at 11:59 p.m. ET on July 13,
2015.
As of the expiration of the Offer, a total of 5,924,736 shares
were validly tendered and not withdrawn in the Offer (including an
aggregate of 31,611 shares delivered by notice of guaranteed
delivery), representing 86.39% of Geeknet’s outstanding shares,
according to the depositary for the Offer.
All conditions to the Offer having been satisfied, GameStop will
accept for payment, and pay for by deposit of the Offer Price for
such shares with the depositary for the Offer on July 17, 2015, all
shares validly tendered into (and not validly withdrawn from) the
Offer.
Following the consummation of the Offer, GameStop will complete
the acquisition of Geeknet through a merger without a meeting of
stockholders of Geeknet in accordance with Section 251(h) of the
General Corporation Law of the State of Delaware. At the date and
time at which the merger becomes effective, each of the then issued
and outstanding shares of Geeknet common stock (other than shares
held (i) in the treasury of Geeknet or by GameStop or any of
GameStop’s subsidiaries, which shares will be canceled and will
cease to exist or (ii) by stockholders who validly exercise
appraisal rights under Delaware law with respect to such shares)
will be automatically canceled and converted into the right to
receive the Offer Price, without interest thereon and less any
applicable withholding taxes.
About GameStop
GameStop Corp. (NYSE: GME), a Fortune 500 and S&P 500
company headquartered in Grapevine, Texas, is a global,
multichannel video game, consumer electronics and wireless services
retailer. GameStop operates more than 6,600 stores across 14
countries. The company’s consumer product network also includes
www.gamestop.com; www.Kongregate.com, a leading browser-based game
site; and Game Informer® magazine, the world’s leading print and
digital video game publication. In addition, our Technology Brands
segment includes our Simply Mac and Spring Mobile businesses.
Simply Mac, www.simplymac.com, operates 71 stores, selling the full
line of Apple products, including laptops, tablets, and smartphones
and offering Apple certified warranty and repair services. Spring
Mobile, http://springmobile.com, sells post-paid AT&T services
and wireless products through its 410 AT&T branded stores and
offers pre-paid wireless services, devices and related accessories
through its 68 Cricket branded stores in select markets throughout
the United States.
General information about GameStop Corp. can be obtained at the
company’s corporate website. Follow GameStop on Twitter @
www.twitter.com/GameStop and find GameStop on Facebook @
www.facebook.com/GameStop.
About Geeknet
Geeknet, Inc. (NASDAQ: GKNT) is the parent company of
ThinkGeek and ThinkGeek Solutions. ThinkGeek is the premier
retailer for the global geek community. Since 1999, ThinkGeek has
been creating a world where everyone can express their inner geek,
embrace their passions, and connect with each other. ThinkGeek
Solutions, which distributes video game-themed merchandise through
licensed web-stores for the gaming community, joined our Geeknet
family in August 2014. Our obsession is creating and sharing
unique and authentic product experiences that stimulate our fans’
imaginations and fuel their geek core. We believe that there is a
geek in everyone and that it should be celebrated. Want to learn
more? Check out www.thinkgeek.com or www.geek.net.
Forward-Looking Statements
This release contains forward-looking statements regarding,
among other things, statements related to expectations, goals,
plans, objectives and future events. GameStop intends such
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements contained in
Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Reform Act of 1995. In some cases,
forward-looking statements can be identified by the following
words: “may,” “will,” “could,” “would,” “should,” “expect,”
“intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,”
“project,” “potential,” “continue,” “ongoing,” “outlook,”
“guidance” or the negative of these terms or other comparable
terminology, although not all forward-looking statements contain
these words. The forward-looking information and statements are or
may be based on a series of projections and estimates and involve
risks and uncertainties. Various factors could adversely affect
GameStop’s operations, business or financial results in the future
and cause its actual results to differ materially from those
contained in the forward-looking statements. The forward looking
statements contained herein include assumptions about GameStop’s
operations, and certain plans, activities or events which we expect
will or may occur in the future. Risks and uncertainties related to
the proposed transactions include, among others: (1) the
satisfaction of the conditions to the consummation of the proposed
transactions, (2) the timing of the completion of the proposed
transactions and (3) the potential impact of the announcement
or consummation of the proposed transactions on GameStop’s
relationships, including with employees, suppliers and customers.
Please also refer to those factors discussed in detail in the “Risk
Factors” section contained in GameStop’s Annual Report on
Form 10-K for the year ended Jan. 31, 2015 filed with the
SEC on March 30, 2015 and in its subsequently filed Form 10-Q.
Given these uncertainties, undue reliance should not be placed on
these forward-looking statements. GameStop undertakes no obligation
to publicly release any revisions to these forward-looking
statements to reflect events or circumstances after the date hereof
or to reflect the occurrence of unanticipated events.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150714005931/en/
Investor and Media Inquiries:Matt HodgesVice President,
Public and Investor RelationsGameStop Corp.(817) 424-2130
GameStop (NYSE:GME)
Historical Stock Chart
From Apr 2024 to May 2024
GameStop (NYSE:GME)
Historical Stock Chart
From May 2023 to May 2024