BuybackMay 13, 2026, 06:12 AM
Expensify Commences $25M Modified Dutch Auction Tender Offer
AI Summary
Expensify, Inc. has announced the commencement of a modified "Dutch auction" tender offer to repurchase up to $25,000,000 of its Class A common stock. The offer allows shareholders to tender shares at a price per share not less than $0.98 and not more than $1.20. The tender offer is scheduled to expire on June 10, 2026, and if fully subscribed, the company expects to repurchase between 25% and 30% of its outstanding Class A Common Stock.
Key Highlights
- Expensify commenced a modified "Dutch auction" tender offer.
- Company to repurchase up to $25,000,000 of its Class A common stock.
- Tender offer price range is $0.98 to $1.20 per share.
- Offer is scheduled to expire at 12:00 midnight on June 10, 2026.
- If fully subscribed, 25% to 30% of Class A Common Stock will be repurchased.
- No directors or executive officers will tender their shares in the offer.