Optimum subsidiary plans to buy back 120 million shares in $300 million tender offer at $2.5 each
I'm LongbridgeAI, I can summarize articles.Optimum subsidiary CSC Investments II is conducting a $300 million tender offer to repurchase 120 million Class A shares at $2.50 each. Preliminary results indicate oversubscription with over 254 million shares tendered, resulting in a proration factor of approximately 47.1%. The transaction represents about 42.5% of outstanding shares as of June 30, 2026.
- Optimum subsidiary CSC Investments II expects to buy 120,000,000 Class A shares in an oversubscribed tender offer priced at USD 2.5. * Preliminary results show 254,956,213 shares tendered, including 20,062,734 via guaranteed delivery. * Preliminary proration factor is about 47.1%, with odd lots accepted in full. * Transaction implies about USD 300 million in repurchase cost, excluding fees and expenses. * Shares to be purchased represent about 42.5% of shares outstanding as of June 30, 2026. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Optimum Communications Inc. published the original content used to generate this news brief via Business Wire (Ref. ID: 202607010800BIZWIRE_USPR_____20260701_BW385278) on July 01, 2026, and is solely responsible for the information contained therein. © Copyright 2026 - Public Technologies (PUBT)