Data Storage Corporation announced the final results of its tender offer to acquire shares of the Company's common stock at $5.20 per share in cash.
With the completion of the tender offer, Data Storage has streamlined its capital structure while maintaining a strong balance sheet and liquidity for future initiatives.
The Company has retained over $10 million in cash after accepting approximately 72% of the outstanding shares.
Successful Tender Offer
Data Storage Corporation accepted 5,625,129 shares of common stock, representing 72.0% of the total outstanding shares.
Transformational M&A Strategy
The Company plans to execute a disciplined acquisition strategy focusing on technology-enabled services with clear paths to scale.
Financial Position
Data Storage Corporation maintains a strong balance sheet with over $10 million in cash after the tender offer completion.
- The tender offer results show that investors were willing to sell their shares to the Company at the offered price.
- By streamlining its capital structure, Data Storage is better positioned to pursue strategic opportunities and transformative acquisitions.
Data Storage Corporation's successful tender offer and strategic focus on disciplined M&A activities demonstrate its commitment to long-term growth and value creation in the technology sector.