Altaba Announces Final Results of Tender Offer

NEW YORK--(BUSINESS WIRE)--Altaba Inc. (“Altaba” or the “Fund”) (NASDAQ: AABA) announced today the final results of its tender offer to purchase up to 195,000,000 (approximately 24%) shares of its common stock, at a price per share equal to (i) 0.35 American Depository Shares (“Alibaba ADSs”) of Alibaba Group Holding Limited, a Cayman Islands company (“Alibaba”), which are held by the Fund in its investment portfolio, less any Alibaba ADSs withheld to satisfy applicable withholding taxes and subject to adjustment for fractional Alibaba ADSs, and (ii) $8.93 in cash, less any cash withheld to satisfy applicable withholding taxes and without interest. The amount of the cash portion of the offer consideration was determined by multiplying the previously announced Alibaba VWAP of $178.5246 by 0.05. The tender offer expired on August 8, 2018 at 5:00 p.m., New York City time.