Wix Completes Dutch Auction Tender Offer, Repurchases Shares
(RTTNews) - Wix.com Ltd. (WIX), a SaaS website builder platform, on Friday announced the final results of its modified Dutch auction tender offer, purchasing 17,577,250 shares at $92 per share for an aggregate cost of approximately $1.617 billion.
The tender offer expired on April 1.
The shares represent about 29.7% of the company's outstanding shares as of April 1.
The company said the tender offer enables it to repurchase nearly 30% of its market capitalization and return value to shareholders, reflecting confidence in its long-term strategy.
On Thursday, Wix closed trading 9.45% lesser at $81.95 on the Nasdaq. In the after-hours, the stock traded 0.10% higher at $82.03.
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