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Thoma Bravo Completes Tender Offer for Outstanding Shares of InstructureSAN FRANCISCO and SALT LAKE CITY, March 23, 2020 /PRNewswire/ -- Thoma Bravo, LLC, a leading private equity firm focused on the software and technology-enabled services sector, today announced that it has successfully concluded its cash tender offer to purchase all of the outstanding shares of common stock of Instructure (NYSE:INST). The tender offer expired as scheduled at one minute after 11:59 p.m. Eastern Time on March 20, 2020. As of expiration, 24,828,913 shares had been validly tendered and not withdrawn from the tender offer, representing approximately 64.4 percent of the aggregate voting power of Instructure's outstanding shares of common stock. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Thoma Bravo expects to promptly pay for such shares. Thoma Bravo will now complete a second-step merger in which any remaining shares of Instructure common stock will be converted into the right to receive an amount in cash equal to the per share price paid in the tender offer, without interest and less any required withholding taxes. Upon completion of the transaction, which is expected to happen on March 24, 2020, Instructure will become a privately held compny. Kirkland & Ellis served as the legal adviser to Thoma Bravo. J.P. Morgan Securities served as exclusive financial adviser to Instructure and Cooley LLP served as its legal adviser. About Thoma Bravo, LLC About Instructure
Thoma Bravo Media Contact Instructure Media Contact View original content to download multimedia:http://www.prnewswire.com/news-releases/thoma-bravo-completes-tender-offer-for-outstanding-shares-of-instructure-301027972.html SOURCE Thoma Bravo |