WebMD Health Corp. (Nasdaq: WBMD) announced today the final results of its tender offer to purchase up to 5,800,000 shares of its common stock at a price of $46.80 per share, which expired at 5:00 p.m., New York City time on April 8, 2010. Based on the final tabulation by American Stock Transfer & Trust Company, the Depositary for the tender offer, 5,172,204 shares of WebMD common stock were properly tendered and delivered.
WebMD will accept for purchase all shares that were properly tendered and delivered, for a total cost of approximately $242.1 million. The Depositary will promptly issue payment for the shares purchased.
Immediately following the purchase of the tendered shares, WebMD expects to have approximately 50.8 million shares of its common stock outstanding (excluding approximately 996,000 unvested shares of restricted stock) and approximately $550 million in cash and investments.