Incyte: Final results of “Dutch auction” tender to purchase $1.6B in stock

Incyte announced the final results of its modified “Dutch auction” tender offer to purchase up to $1.672B in value of shares of its common stock, which expired at 12:00 midnight, at the end of the day, New York City time, on June 10. Based on the final count by Computershare Trust Company the depositary for the tender offer, a total of 29,821,563 shares of Incyte’s common stock were properly tendered and not properly withdrawn at or below the purchase price of $60.00 per share. Incyte has accepted for purchase 27,866,666 shares of its common stock at a purchase price of $60.00 per share, for a total cost of approximately $1.672B, excluding fees and expenses relating to the tender offer. These shares represent approximately 12.4 % of the Company’s total outstanding shares of common stock as of June 7. The final proration factor for the shares that Incyte will purchase pursuant to the tender offer is approximately 93.5%.