Health Web site operator WebMD Health Corp. (NASDAQ: WBMD) said Friday more than 6.3 million shares of its stock were properly tendered as part of its offer to purchase shares for $37 apiece, according to Associated Press.
MicroCap Insider is a web-based financial portal.
Sign Up for our Free Stock Newsletter
MicroCap Insider publishes a free penny stock newsletter providing stock alerts on companies positioned to deliver high-yield gains to investors.
The New York-based company said it expects to purchase all properly tendered shares for a total of about $235.1 million. It will have about 51.8 million shares outstanding after the purchase.
The offer, which expired Thursday, represented a 3.5 percent premium over the stock's closing price before it was announced last month.
Shares of WebMD climbed 51 cents, or 1.36 percent, to close Friday at $37.22.
Sign Up for FREE. Investors interested in receiving small cap stock alerts through the penny stock newsletter published by MicroCap Insider can sign up for free by visiting our website.
About Us
MicroCap Insider is a leading penny stock web site with extensive experience in the OTC market, providing top stock picks, investing tips and exclusive research on small cap stocks on the verge of producing large financial gains.
Please click here to read the full disclaimer.
