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WEX Inc (WEX)
Computer Software and Services Information Technology
Stock AI

WEX Inc. Announces Preliminary Results of Tender Offer

Last updated: March 26, 2025
Taurigo

WEX Inc. (NYSE: WEX), a leading global commerce platform, has released preliminary results from its recently concluded modified “Dutch auction” tender offer, which expired on March 25, 2025. This strategic financial move is expected to have significant implications for the company's capital structure and shareholder value.

1. Overview of the Tender Offer

According to the preliminary count by Equiniti Trust Company, LLC, the designated depositary for the tender offer, approximately 4,877,214 shares of WEX’s common stock were validly tendered at or below the purchase price of $154.00 per Share. This figure includes 1,547,927 Shares tendered through a notice of guaranteed delivery.

Acceptance for Payment

In line with the terms of the tender offer, WEX anticipates accepting 4,870,130 Shares for payment at the price of $154.00 per Share. The total cost for this transaction is projected to be around $750 million, excluding any associated fees and expenses. Notably, the company will accept Shares on a pro rata basis, while “odd lots” will be fully accepted, and conditional tenders that do not meet the criteria will be treated as withdrawn.

Proration Factor

The preliminary proration factor for this tender offer is approximately 99.85%, indicating a high level of participation from shareholders. Furthermore, the Shares earmarked for purchase represent about 12.5% of the total outstanding Shares as of February 24, 2025, showcasing a significant response from investors.

2. Next Steps and Finalization

The numbers provided in this press release are preliminary and subject to change. WEX has noted that the final count of Shares accepted will be confirmed after the expiration of the guaranteed delivery period. Payments for the accepted Shares will be made in cash without interest once the depositary completes its confirmation process.

3. About WEX

WEX Inc. is recognized as a global commerce platform that simplifies the complexities of running a business. The company has built a robust ecosystem that offers tailored solutions to customers worldwide, driven by rich data and a focus on simplifying various aspects of business operations, including benefits, mobility, and payment processing.

WEX continues to position itself as a leader in the industry, helping businesses navigate challenges while maximizing their potential.

As WEX moves forward, stakeholders and analysts will be closely watching the final results of this tender offer and its impact on the company's financial health and strategic direction.

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