Integral Systems, Inc. [NASDAQ: ISYS] today announced the results of its tender offer, which expired at 12:00 midnight, New York City time, on September 11, 2007. The company has accepted for purchase 1,850,000 shares of its common stock at a purchase price of $27.00 per share, for an aggregate purchase price of $49.95 million. Approximately 9,219,983 shares were tendered and not withdrawn, of which approximately 616,067 were tendered pursuant to notices of guaranteed delivery. Due to oversubscription of the tender offer, the Company accepted properly tendered shares on a pro rata basis. The expected proration factor is approximately 20.8%.
Wells Fargo Bank, N.A., the depositary for the tender offer, will promptly issue payment for the shares validly tendered and accepted for purchase under the tender offer. The number of shares the company accepted for purchase in the tender offer represents approximately 16.4 percent of its currently outstanding common stock. The dealer manager for the tender offer was Allen & Company LLC; the information agent was D.F. King & Co., Inc.; and the depositary was Wells Fargo Bank, N.A. All inquiries about the tender offer should be directed to the information agent at (888) 887-1266. Banks and brokers may call (212) 269-5550.
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