LiveRamp disclosed the preliminary results of a tender offer to repurchase up to $500 million of its common shares.

A total of 19,281,058 common shares were properly tendered and not withdrawn at a price of $44.50 per share. This included 16,183,514 common shares that were tendered by notice of guaranteed delivery.

LiveRamp expected to buy back about 11.2 million common shares, approximately 14.2% of outstanding shares, at $44.50 apiece for a cost of approximately $500 million.

The tender offer expired Dec. 13, 2018.