Steel Excel Inc. SXCL and iGO, Inc. IGOI said that Steel has completed its tender offer for up to 1,316,866 of the outstanding shares of common stock of the company for USD3.95 per share.

 

Computershare Trust Company, the depositary for the tender offer, has advised that 2,075,007 shares of the company's common stock were validly tendered, representing approximately 69.3% of the outstanding shares of the company's common stock on a fully diluted basis, as of July 11, 2013. Accordingly, Steel has accepted for payment 1,316,866 shares.

 

Because the tender offer was oversubscribed, the number of shares of the company's common stock that Steel accepted for purchase from each of the tendering stockholders will be prorated by an estimated 63.5%. The proration factor limits Steel's purchase to 44.0% of the shares of the company's common stock outstanding as of July 11, 2013 on a fully diluted basis, in accordance with the terms of the tender offer.

 

iGO, Inc. offers a full line of innovative accessories for almost every mobile electronic device on the market. Whether consumers want to power, protect, listen to, share, cool, hold or connect to their devices, iGO has the accessories they need.