UTStarcom Announces Tender Offer to Purchase 25 Mln ADSs

UTStarcom, 11/30/12

Chinese network solutions provider UTStarcom (Nasdaq: UTSI) announced today the commencement of a tender offer to purchase up to 25 mln of its ordinary shares at a price of USD 1.20 per share, representing a 30.4% premium to the November 29, 2012 closing price on the NASDAQ Global Select Market of USD 0.92 per share. The tender offer is expected to expire at 5:00 P.M., New York City time, on Thursday, January 3, 2013, unless extended. In accordance with the rules of the Securities and Exchange Commission, UTStarcom may increase the number of shares accepted in the offer by no more than two percent of the outstanding shares without amending or extending the tender offer.

Keywords: financing telecom UTSI UTStarcom

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