Data Storage Corporation announced the final results of its tender offer to acquire up to 6,192,990 shares of common stock.
The tender offer was funded entirely through the company's cash on hand, allowing it to streamline its capital structure.
Data Storage Corporation accepted for purchase 5,625,129 shares of common stock at a price of $5.20 per share.
Successful Tender Offer
Approximately 72% of outstanding shares were retired through the tender offer, strengthening the company's balance sheet.
Strategic Focus
The company plans to pursue a disciplined acquisition strategy focused on technology-enabled services with recurring revenue and high margins.
Financial Position
Following the tender offer, the company retained over $10 million in cash, providing liquidity for future strategic initiatives.
- The completion of the tender offer has allowed Data Storage Corporation to maintain a strong balance sheet and liquidity for strategic growth.
- The company's strategy of focusing on acquisitions in areas such as GPU Infrastructure and cybersecurity has the potential to drive transformative growth over time.
Data Storage Corporation's successful tender offer and strategic focus on disciplined acquisitions position the company for future growth and transformation in the technology services sector.