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Data Storage Corporation Announces Its Intention to Commence a Tender Offer
Globenewswire· 2025-12-08 13:30
Core Viewpoint - Data Storage Corporation is initiating a tender offer to purchase up to 6,192,990 shares of its common stock at a price of $5.20 per share, totaling an aggregate purchase price of up to $32,203,548 [1][4] Group 1: Tender Offer Details - The tender offer will commence on December 8, 2025, and is set to expire at midnight on January 7, 2026, unless extended [2] - Stockholders must validly tender their shares before the expiration time to participate in the offer, and shares can only be withdrawn before this time [2] - The company will fund the purchase of tendered shares using cash on hand, including proceeds from the sale of its cloud services business completed on September 11, 2025 [6] Group 2: Strategic Direction - Following the divestiture of its disaster recovery and CPU cloud hosting services, the company is focusing on higher-growth areas such as GPU Infrastructure-as-a-Service (IaaS), AI-driven software applications, cybersecurity, and voice/data telecommunications [3][12] - The company has engaged specialists in high-technology verticals to support its acquisition and partnership strategy [3] - The tender offer provides liquidity for stockholders who choose to participate, while those who do not will own a greater percentage of the company post-offer [3][4]