AvePoint, Inc. announced the expiration and results of its offer to purchase and consent solicitation relating to its warrants. The company's offer to purchase 17,576,241 publicly traded warrants expired on September 24, 2024. As of the expiration date, 1,596,314 warrants had been validly tendered and not validly withdrawn, representing approximately 9.1% of the outstanding warrants. The company has accepted all validly tendered warrants for purchase and expects to settle such purchase promptly. AvePoint expects to pay an aggregate of approximately $4.0 million in cash to purchase the validly tendered warrants.
Additionally, AvePoint solicited consents to amend the warrant agreement to permit the company to redeem each outstanding warrant not tendered in the offer for $2.00 in cash. However, parties representing holders of approximately 9.1% of the outstanding warrants consented to the warrant amendment, which was less than the 50.1% required for approval.
The company's common stock and warrants are listed on the NASDAQ Stock Market LLC under the symbols "AVPT" and "AVPTW," respectively.
As a result of these announcements, the company's shares have moved 0.2% on the market, and are now trading at a price of $11.79. For more information, read the company's full 8-K submission here.
