Le Lézard
Classified in: Covid-19 virus
Subject: Stock Sale/Buyback

Herbalife Nutrition Announces Preliminary Results of Self?Tender Offer


Herbalife Nutrition Ltd. (NYSE: HLF) ("Herbalife Nutrition" or the "Company"), announced today the preliminary results of its "modified Dutch auction" self-tender offer, which expired at 5:00 P.M., New York City time, on Tuesday, August 11, 2020, to purchase up to an aggregate of $750 million of the Company's common shares at a cash purchase price not greater than $50.00 nor less than $44.75 for each share tendered. Based on the preliminary count by Computershare Trust Company, N.A., the Depositary for the tender offer, a total of approximately 37.9 million common shares of the Company were properly tendered and not properly withdrawn at or below the price of $50.00 per share, the maximum cash purchase price in the price range specified in the tender offer.

In accordance with the terms and conditions of the tender offer and based on a preliminary count by the Depositary, the Company expects to accept for payment a total of approximately 15.4 million common shares of the Company at a cash purchase price of $48.75 per share, for a total cash cost of approximately $750 million, excluding fees and expenses relating to the tender offer. These common shares represent approximately 10.4% of the Company's total outstanding shares as of August 10, 2020.

The Company expects to fund the share purchases in the tender offer from existing cash on hand.

Because the tender offer is oversubscribed, the Company expects to purchase only a prorated portion of the common shares properly tendered by each tendering shareholder (other than "odd lot" holders whose shares will be purchased on a priority basis) at the final per share purchase price. Based on the preliminary tender count, and accounting for the effect of odd lot priority on the proration factor, the Depositary has informed the Company the preliminary proration factor for the tender offer is expected to be approximately 42% of the shares properly tendered at or below the cash purchase price of $48.75 per share and not properly withdrawn based on the total number of shares reported to be tendered at or below $48.75 per share and not withdrawn prior to the expiration of the tender offer and accounting for "odd lot" priority and the conditional tender provisions of the tender offer.

The number of shares expected to be purchased in the tender offer, the cash purchase price per share, the aggregate cash purchase price and the proration factor are preliminary and subject to change. The final number of shares to be purchased in the tender offer, the final cash purchase price per share, the final aggregate cash purchase price, as well as the final proration factor will be announced following the completion of the confirmation process by the Depositary. Payment for the shares accepted for purchase pursuant to the tender offer, and the return of all other shares tendered and not purchased, will occur promptly thereafter.

The Company's tender offer was made pursuant to an Offer to Purchase and Letter of Transmittal, each dated July 13, 2020.

About Herbalife Nutrition Ltd.

The Company is a global company that has been changing people's lives with great nutrition products and a proven business opportunity for its independent distributors since 1980. The Company offers high-quality, science-backed products, sold in over 90 countries by entrepreneurial distributors who provide one-on-one coaching and a supportive community that inspires their customers to embrace a healthier, more active lifestyle. Through the Company's global campaign to eradicate hunger, the Company is also committed to bringing nutrition and education to communities around the world.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains "forward-looking statements". Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and to inherent risks and uncertainties, such as those disclosed or incorporated by reference in our filings with the Securities and Exchange Commission. Additionally, many of these risks and uncertainties are, and may continue to be, amplified by the COVID-19 pandemic. Important factors that could cause our actual results, performance and achievements, or industry results to differ materially from estimates or projections contained in our forward-looking statements include, among others, the following:

We do not undertake any obligation to update or release any revisions to any forward-looking statement or to report any events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.


These press releases may also interest you

at 10:01
The Predictive Maintenance Market is estimated to grow from USD 10.6...

at 08:40
The "Global Cell Counting Market: Analysis By Product, By Application, By End-User, By Region Size, Trends and Forecast to 2029" report has been added to ResearchAndMarkets.com's offering. The global cell counting market was valued at US$9.98...

at 06:15
The "Global Immune Health Supplements Market - Outlook & Forecast 2023-2028" report has been added to  ResearchAndMarkets.com's offering. The global immune health supplements market was valued at $20.80 billion in 2022 and is expected to reach...

at 05:45
The Gross Law Firm issues the following notice to shareholders of Amplitude, Inc. . Shareholders who purchased shares of AMPL during...

at 05:45
The Gross Law Firm issues the following notice to shareholders of Nextdoor Holdings, Inc. f/k/a Khosla Ventures Acquisition Co. II ....

at 05:30
The "Syndromic Multiplex Panels Markets. Strategies and Trends. Forecasts by Syndrome (Respiratory, Sepsis, GI etc.) by Place, by Product and by Country. With Market Analysis and Executive Guides. 2024 to 2028" report has been added to...



News published on and distributed by: