Data Storage Corporation (Nasdaq: DTST) announced the final results of its tender offer to acquire shares of the Company's common stock.
Approximately 72% of outstanding shares were retired through the tender offer, funded by the Company's cash on hand.
The Company aims to execute a disciplined, transformational M&A strategy with a focus on technology-enabled services.
Tender Offer Results
5,625,129 shares of common stock were accepted for purchase at $5.20 per share, representing 72.0% of outstanding shares.
Financial Position
Post-tender offer, Data Storage Corporation retains over $10 million in cash for strategic initiatives.
Acquisition Strategy
Focus on acquisitions with recurring revenue, high margins, and clear paths to scale in GPU Infrastructure, AI-driven software, cybersecurity, and telecommunications.
- The completion of the tender offer streamlined Data Storage Corporation's capital structure while maintaining a strong balance sheet.
- The Company's strategy prioritizes pursuing transformative acquisitions in key technology segments to drive long-term growth.
With a streamlined capital structure and strategic focus on transformative acquisitions, Data Storage Corporation is well-positioned for future growth and value creation in the technology-enabled services sector.