SAN DIEGO, Aug. 28, 2018 /PRNewswire/ -- Qualcomm
Incorporated (NASDAQ: QCOM) today announced the preliminary results
of its "modified Dutch auction" tender offer, which expired at
12:00 midnight, New York City
time, at the end of the day on August 27,
2018.
Based on the preliminary count by Computershare Trust Company,
N.A., the depositary for the tender offer, a total of 76,205,230
shares of Qualcomm's common stock were properly tendered and not
properly withdrawn at or below the purchase price of $67.50 per share, including 34,408,876 shares
that were tendered by notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer
and based on the preliminary count by the depositary, Qualcomm
expects to accept for payment, at a purchase price of $67.50, approximately 76,205,230 shares of its
common stock properly tendered at or below the purchase price and
not properly withdrawn before the expiration date, at an aggregate
cost of approximately $5.1 billion,
excluding fees and expenses relating to the tender offer.
The number of shares to be purchased and the purchase price are
preliminary and subject to change. The preliminary
information contained in this press release is subject to
confirmation by the depositary and is based on the assumption that
all shares tendered through notice of guaranteed delivery will be
delivered within the two-trading day settlement period. The
final number of shares to be purchased and the final purchase price
will be announced following the expiration of the guaranteed
delivery period and completion by the depositary of the
confirmation process. Payment for the shares accepted for
purchase under the tender offer and return of all other shares
tendered and not purchased, will occur promptly thereafter.
Goldman Sachs & Co. LLC acted as dealer manager for the
tender offer. Stockholders who have questions or would like
additional information about the tender offer may contact the
information agent for the tender offer, Georgeson LLC at (800)
561-2871 (toll free) or by email at QCOM@Georgeson.com.
About Qualcomm
Qualcomm invents breakthrough technologies that transform how
the world connects, computes and communicates. When we connected
the phone to the Internet, the mobile revolution was born. Today,
our inventions are the foundation for life-changing products,
experiences, and industries. As we lead the world to 5G, we
envision this next big change in cellular technology spurring a new
era of intelligent, connected devices and enabling new
opportunities in connected cars, remote delivery of health care
services, and the IoT — including smart cities, smart homes, and
wearables. Qualcomm Incorporated includes our licensing
business, QTL, and the vast majority of our patent portfolio.
Qualcomm Technologies, Inc., a subsidiary of Qualcomm Incorporated,
operates, along with its subsidiaries, all of our engineering,
research and development functions, and all of our products and
services businesses, including, our QCT semiconductor
business. For more information, visit Qualcomm's website, OnQ
blog, Twitter and Facebook pages.
Cautionary Note Regarding Forward-Looking Statements
Any statements contained in this document that are not
historical facts are forward-looking statements as defined in the
U.S. Private Securities Litigation Reform Act of 1995.
Additionally, statements regarding operating results for
future years, growth in operating results and the factors
contributing to future operating results; the resolution of
licensing disputes and the impact and timing thereof; expected
market, industry, geographic and organic growth and trends; future
serviceable addressable market size and growth; anticipated
contributions from and growth in new opportunities; benefits from
planned cost reductions; technology and product leadership and
trends; Qualcomm's positioning to benefit from any of the above;
potential benefits and upside to Qualcomm's stockholders related to
any of the above; and the regulatory process and regulatory
uncertainty are forward-looking statements. Words such as
"anticipate," "believe," "estimate," "expect," "forecast,"
"intend," "may," "plan," "project," "predict," "should," "will" and
similar expressions are intended to identify such forward-looking
statements. These statements are based on Qualcomm's current
expectations or beliefs and are subject to uncertainty and changes
in circumstances. Actual results may differ materially from
those expressed or implied by the statements herein due to changes
in economic, business, competitive, technological, strategic and/or
regulatory factors, and other factors affecting the operations of
Qualcomm. More detailed information about these factors may
be found in Qualcomm's filings with the SEC, including those
discussed in Qualcomm's most recent Annual Report on Form 10-K and
in any subsequent periodic reports on Form 10-Q and Form 8-K, each
of which is on file with the SEC and available at the SEC's website
at www.sec.gov. SEC filings for Qualcomm are also available in the
Investor Relations section of Qualcomm's website at
www.qualcomm.com. Qualcomm is not obligated to update
these forward-looking statements to reflect events or circumstances
after the date of this document. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of their dates.
Qualcomm Contacts:
Pete Lancia, Corporate
Communications
Phone: 1-858-845-5959
Email: corpcomm@qualcomm.com
John Sinnott, Investor
Relations
Phone: 1-858-658-4813
Email: ir@qualcomm.com
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SOURCE Qualcomm Incorporated