Caldera International, Inc. Completes Stock Repurchase
LINDON, Utah, July 23 /PRNewswire-FirstCall/ -- Caldera International, Inc. (Nasdaq:CALD) today announced that it has completed the purchase of the shares of its common stock held by Tarantella, Inc. (Nasdaq:TTLA) and MTI Technology Corporation (Nasdaq:MTIC). Caldera acquired 4,304,000 shares or 31% of its issued and outstanding common stock for an aggregate purchase price of $4,029,000, or $0.94 per share. The repurchase of these shares has reduced the number of issued and outstanding shares of the Company to 9,487,000, of which 5,318,000 are held by The Canopy Group, Inc., and the remaining 4,169,000 are held by non-affiliates.
"These shares were an overhang to the market and were depressing Caldera's stock price. The elimination of these shares puts Caldera in a much more attractive position for present shareholders and interested investors," said Bob Bench, CFO, Caldera International. "The repurchase of nearly a third of Caldera's outstanding shares now opens the way for Caldera to raise additional capital at higher prices, and will allow for the market to reach a share price that more closely reflects the value of Caldera. The company has improved its equity position, is essentially debt free, and can now take advantage of expansion opportunities."
"During the next 12 months, Caldera will identify appropriate technologies and companies that will complement our strategy and roadmap," said Darl McBride, president and CEO, Caldera International. "Caldera is in the enviable position of having a worldwide channel sales organization with a vast network of resellers and distributors. We will be active in licensing and acquiring technologies that leverage our channel and add value to our customers."
Caldera International, Inc.
Caldera International (Nasdaq:CALD) provides "Powerful Choices" for businesses through its UNIX, Linux and Volution product lines and services. Based in Lindon, UT, Caldera has representation in 82 countries and 16,000+ resellers worldwide. Caldera Global Services provides reliable localized support and services to partners and customers. For more information on Caldera products and services, visit caldera.com .
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SOURCE Caldera International, Inc.
CO: Caldera International, Inc.; Tarantella, Inc.; MTI Technology Corporation; Canopy Group, Inc.
ST: Utah
SU:
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07/23/2002 07:45 EDT |
