An affiliate of technology-focused private equity firmVector Capital Management LPcompleted the cash tender offer for all of Sizmek Inc.'s outstanding shares of common stock at$3.90 per share.
The offer expired at midnight ET on Sept. 26, and a total of17,166,475 shares were tendered into and not withdrawn from the offer,representing about 58.89% of Sizmek's outstanding shares, according to a Sept.27 news release. Vector has now acquired a sufficient number of Sizmek's commonshares to close the merger without the affirmative vote of Sizmek's otherstockholders.
Upon completion of the merger, Sizmek will become a wholly ownedportfolio company of Vector. Sizmek's common stock is expected to cease tradingon the Nasdaq at the close of market on Sept. 27, following completion of themerger, unless the merger is completed prior to the Nasdaq opening on Sept. 27.