Quantcast

ARTISTDIRECT MAKES TENDER MOMENT LAST LONGER

Shareholders Get 20 More Days
To Get Rid Of Stock
ARTISTdirect has extended its tender-offer deadline for shareholders to sell their stock back to the netco until 5 p.m. EST, Monday, April 19…unless of course, the company decides to extend it further.

The tender offer, in which the music-media company plans to purchase up to 2 million of the 37.8 million outstanding shares of its fizzled stock, was to expire yesterday, but ARTISTdirect chose to give itself 20 additional days to repurchase and shareholders 20 more days to lose the dead weight. No reason was offered for the extension.

The purchase will be made by "Dutch Auction," with an offering range between $1.25 to $1.50 per share. Shares are currently trading at 75 cents. If the number tendered is greater than the number sought, ARTISTdirect will buy within a range that allows it to repurchase the shares at the lowest aggregate price.

The company intends to cover the buyback with its current cash flow and the liquidation of short-term investments—along with the money staff members collected at the netco's recent carwash fundraiser.

NEAR TRUTHS: SPRING BLOOMS
Here come the big guns. (3/28a)
THE COUNT: COLDPLAY IS HOT, COUNTRY'S COOKIN' IN THE U.K.
The latest tidbits from the bustling live sector (3/28a)
CITY OF HOPE TAPS MARCIANO FOR TOP HONOR
This year's philanthropic model (3/28a)
TRUST IN THE TOP 20
Hip-hop is no longer hibernating. (3/28a)
UMG BROADENS SPOTIFY OFFERINGS
Sir Lucian and Daniel are in harmony. (3/28a)
THE NEW UMG
Gosh, we hope there are more press releases.
TIKTOK BANNED!
Unless the Senate manages to make this whole thing go away, that is.
THE NEW HUGE COUNTRY ACT
No, not that one.
TRUMP'S CAMPAIGN PLAYLIST
Now 100% unlicensed!
 Email

 First Name

 Last Name

 Company

 Country
CAPTCHA code
Captcha: (type the characters above)