GRAPEVINE, Texas--(BUSINESS WIRE)--Jul. 14, 2015--
GameStop Corp. (NYSE: GME) today announced the expiration of its tender
offer (the “Offer”) to purchase all outstanding shares of Geeknet, Inc.
(NASDAQ: GKNT) for $20.00 per share in cash (the “Offer Price”). The
Offer expired at 11:59 p.m. ET on July 13, 2015.
As of the expiration of the Offer, a total of 5,924,736 shares were
validly tendered and not withdrawn in the Offer (including an aggregate
of 31,611 shares delivered by notice of guaranteed delivery),
representing 86.39% of Geeknet’s outstanding shares, according to the
depositary for the Offer.
All conditions to the Offer having been satisfied, GameStop will accept
for payment, and pay for by deposit of the Offer Price for such shares
with the depositary for the Offer on July 17, 2015, all shares validly
tendered into (and not validly withdrawn from) the Offer.
Following the consummation of the Offer, GameStop will complete the
acquisition of Geeknet through a merger without a meeting of
stockholders of Geeknet in accordance with Section 251(h) of the General
Corporation Law of the State of Delaware. At the date and time at which
the merger becomes effective, each of the then issued and outstanding
shares of Geeknet common stock (other than shares held (i) in the
treasury of Geeknet or by GameStop or any of GameStop’s subsidiaries,
which shares will be canceled and will cease to exist or (ii) by
stockholders who validly exercise appraisal rights under Delaware law
with respect to such shares) will be automatically canceled and
converted into the right to receive the Offer Price, without interest
thereon and less any applicable withholding taxes.
About GameStop
GameStop Corp. (NYSE: GME), a Fortune 500 and S&P 500 company
headquartered in Grapevine, Texas, is a global, multichannel video game,
consumer electronics and wireless services retailer. GameStop operates
more than 6,600 stores across 14 countries. The company’s consumer
product network also includes www.gamestop.com;
www.Kongregate.com,
a leading browser-based game site; and Game Informer® magazine, the
world’s leading print and digital video game publication. In addition,
our Technology Brands segment includes our Simply Mac and Spring Mobile
businesses. Simply Mac, www.simplymac.com,
operates 71 stores, selling the full line of Apple products, including
laptops, tablets, and smartphones and offering Apple certified warranty
and repair services. Spring Mobile, http://springmobile.com,
sells post-paid AT&T services and wireless products through its 410 AT&T
branded stores and offers pre-paid wireless services, devices and
related accessories through its 68 Cricket branded stores in select
markets throughout the United States.
General information about GameStop Corp. can be obtained at the
company’s corporate website. Follow GameStop on Twitter @ www.twitter.com/GameStop
and find GameStop on Facebook @ www.facebook.com/GameStop.
About Geeknet
Geeknet, Inc. (NASDAQ: GKNT) is the parent company of ThinkGeek and
ThinkGeek Solutions. ThinkGeek is the premier retailer for the global
geek community. Since 1999, ThinkGeek has been creating a world where
everyone can express their inner geek, embrace their passions, and
connect with each other. ThinkGeek Solutions, which distributes video
game-themed merchandise through licensed web-stores for the gaming
community, joined our Geeknet family in August 2014. Our obsession is
creating and sharing unique and authentic product experiences that
stimulate our fans’ imaginations and fuel their geek core. We believe
that there is a geek in everyone and that it should be celebrated. Want
to learn more? Check out www.thinkgeek.com
or www.geek.net.
Forward-Looking Statements
This release contains forward-looking statements regarding, among other
things, statements related to expectations, goals, plans, objectives and
future events. GameStop intends such forward-looking statements to be
covered by the safe harbor provisions for forward-looking statements
contained in Section 21E of the Securities Exchange Act of 1934 and the
Private Securities Reform Act of 1995. In some cases, forward-looking
statements can be identified by the following words: “may,” “will,”
“could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,”
“believe,” “estimate,” “predict,” “project,” “potential,” “continue,”
“ongoing,” “outlook,” “guidance” or the negative of these terms or other
comparable terminology, although not all forward-looking statements
contain these words. The forward-looking information and statements are
or may be based on a series of projections and estimates and involve
risks and uncertainties. Various factors could adversely affect
GameStop’s operations, business or financial results in the future and
cause its actual results to differ materially from those contained in
the forward-looking statements. The forward looking statements contained
herein include assumptions about GameStop’s operations, and certain
plans, activities or events which we expect will or may occur in the
future. Risks and uncertainties related to the proposed transactions
include, among others: (1) the satisfaction of the conditions to the
consummation of the proposed transactions, (2) the timing of the
completion of the proposed transactions and (3) the potential impact of
the announcement or consummation of the proposed transactions on
GameStop’s relationships, including with employees, suppliers and
customers. Please also refer to those factors discussed in detail in the
“Risk Factors” section contained in GameStop’s Annual Report on
Form 10-K for the year ended Jan. 31, 2015 filed with the SEC on
March 30, 2015 and in its subsequently filed Form 10-Q. Given these
uncertainties, undue reliance should not be placed on these
forward-looking statements. GameStop undertakes no obligation to
publicly release any revisions to these forward-looking statements to
reflect events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
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Source: GameStop Corp.
Investor and Media Inquiries:
Matt Hodges
Vice
President, Public and Investor Relations
GameStop Corp.
(817)
424-2130