Company Purchases 2,054,732 Shares At $36.00 Per Share
CAMBRIDGE, Mass.--(BUSINESS WIRE)--May. 7, 2013--
Forrester Research, Inc. (Nasdaq: FORR) today announced the final
results of its “modified Dutch auction” self-tender offer, which expired
at 5:00 p.m., New York City time, on May 1, 2013.
Forrester has accepted for purchase 2,054,732 shares of its common stock
at a price of $36.00 per share, for a total purchase price of
$73,970,352, excluding fees and expenses relating to the self-tender
offer. The shares accepted for purchase in the self-tender offer
represent approximately 9.1% of Forrester’s currently issued and
outstanding common stock. Forrester funded its purchase of shares in the
self-tender offer using a portion of its cash, cash equivalents, and
marketable investments. After completion of its purchase of shares in
the self-tender offer, Forrester remains authorized under its previously
announced share repurchase program to repurchase up to approximately an
additional $75 million of its common stock. The depositary for the
self-tender offer, Computershare Trust Company, N.A., will promptly pay
for the shares accepted for purchase pursuant to the terms of the tender
offer. Forrester is purchasing all shares validly tendered and not
withdrawn in the self-tender offer.
UBS Securities LLC served as dealer manager for the self-tender offer,
and Georgeson Inc. served as information agent. Stockholders and
investors who have questions or need information about the self-tender
offer may call Georgeson Inc. toll-free at +1 888.661.5651.
About Forrester Research
A global research and advisory firm, Forrester serves professionals in
13 key roles across three distinct client segments. Our clients face
progressively complex business and technology decisions every day. To
help them understand, strategize, and act upon opportunities brought by
change, Forrester provides proprietary research, consumer and business
data, custom consulting, events and online communities, and peer-to-peer
executive programs. We guide leaders in business technology, marketing
and strategy, and the technology industry through independent fact-based
insight, ensuring their business success today and tomorrow. For more
information, visit http://www.forrester.com/.
This press release contains forward-looking statements that involve a
number of risks and uncertainties. These include statements about the
“modified Dutch auction” self-tender offer. These statements are based
on Forrester’s current plans and expectations and involve risks and
uncertainties that could cause actual future activities or results to be
materially different from those set forth in the forward-looking
statements. Important factors that could cause actual future activities
and results to differ include, among others, risks and uncertainties
regarding the amount and timing of potential benefits of the tender
offer; the amount and timing of future repurchases of Forrester’s common
stock; Forrester’s ability to retain and enrich memberships for its
research products and services; technology spending; Forrester’s ability
to respond to business and economic conditions and market trends; the
risks and challenges inherent in international business activities;
competition and industry consolidation; the ability to attract and
retain professional staff; Forrester’s dependence on key personnel; the
possibility of network disruptions and security breaches; and possible
variations in Forrester’s quarterly operating results. Forrester
undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events, or
otherwise. For further information, please refer to Forrester’s reports
and filings with the U.S. Securities and Exchange Commission.
© 2013, Forrester Research, Inc. All rights reserved. Forrester is a
registered trademark of Forrester Research, Inc.
Source: Forrester Research, Inc.
Forrester Research, Inc.
Michael Doyle, +1 617-613-6000
Chief
Financial Officer
mdoyle@forrester.com
or
Forrester
Research, Inc.
Jon Symons, + 1 617-613-6104
Vice President,
Corporate Communications
press@forrester.com