Infospaces fully diluted shares outstanding will decline by a net amount of approximately 10 million, about 10%, as a result of Infospace's employee stock option exchange tender offer, which will be consumated in August, according to a recent Infospace regulatory filing. Here's an excerpt from the aforementioned filing:
This Amendment No. 4 is the final amendment to the Tender Offer Statement on
Schedule TO filed by InfoSpace, Inc. with the Securities and Exchange
Commission on January 15, 2002 (the "Schedule TO"). This amendment relates to
our offer to eligible employees to exchange options to purchase shares of our
common stock granted under our various stock option plans for options to
purchase shares of our common stock under our Restated 1996 Flexible Stock
Incentive Plan upon the terms and subject to the conditions described in the
Offer to Exchange dated January 15, 2002, and the related memorandum from
Naveen Jain dated January 15, 2002, Election Form, and the Notice to Change
Election From Accept to Reject (which together constitute the "Offer"). This
amendment reports the final results of the Offer.
The Offer expired at 9:00 p.m. Pacific Time on Friday, February 15, 2002.
Pursuant to the Offer, we have accepted for exchange and cancellation options
to purchase an aggregate of 12,734,035 shares of common stock of InfoSpace,
Inc., representing approximately 88.8% of the shares subject to options that
were eligible for exchange in the Offer. Subject to the terms and conditions
described in the Offer to Exchange filed as Exhibit (a)(1) to the Schedule TO,
we will grant new options to purchase up to an aggregate of approximately
3,116,070 shares of common stock of InfoSpace, Inc. on August 20, 2002 in
exchange for the options surrendered in the Offer. |
