PITTSBURGH, PA / ACCESSWIRE / December 17, 2024 / Liberated Syndication, Inc. ("Libsyn" or the "Company"), the leading podcasting platform for creators and advertisers, reported the results of its Tender Offer to purchase shares of its common stock.
The Tender Offer, as previously announced, commenced on November 13, 2024, and expired at 11:59 P.M., Eastern Time, on December 13, 2024.
The terms and conditions of the Tender Offer were detailed in an Offer to Purchase and related Letter of Transmittal and annex to that letter both of which were mailed to the Company's Stockholders. These documents were also made available on the Company's website at www.libsyn.com. As a result of the Tender Offer, the Company purchased 6 million shares for a total of $8.6 million.
As previously announced on November 13, 2024, the Company's Board of Directors determined that it will not seek to re-register or re-list the Company's shares at this time. The Board made this determination following a careful review and careful consideration of a number of factors, including, but not limited to (a) the significant operating expense associated with required personnel resources and other costs relating to the listing requirements of the Securities Exchange Act of 1934, as amended, and the major trading exchanges, (b) the operating expense and required management time and attention to meet the continuing disclosure and reporting requirements and related regulatory burdens, and (c) the low likelihood that the Company and its stockholders will realize requisite benefits of public company status. The Board intends to review this decision periodically and the Company remains fully committed to an open dialogue with its stockholders.
About Liberated Syndication
Celebrating our 20th year in podcasting, Liberated Syndication Inc. ("Libsyn") is the leading podcasting platform for creators and advertisers to host, distribute, monetize, amplify, and measure their audio and video content. The Company hosts more than 70,000 shows and delivers over 2.5 billion downloads annually to listeners globally. Libsyn Ads offers industry-leading podcast advertising solutions, serving as a comprehensive ad buying and management offering for creators, advertisers, and agencies to initiate and manage highly targeted campaigns across thousands of shows. Visit libsyn.com or investor.libsyn.com for more information on the Company and the platforms that it powers.
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Media Contacts: Ray Yeung + Nancy Zakhary | ray@relev8.co + nancy@relev8.co
Investor Contact: investor@libsyn.com
SOURCE: Liberated Syndication, Inc.
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