SeaChange International Inc (SEAC) USD0.01

What is happening?

SeaChange International Inc wants to return up to USD6.16 million to shareholders. To do this the company is offering to buy its shares at a price between USD6.75 and USD7.25. This is called a tender offer.

If you don’t want to tender your shares, you don't need to do anything. You’ll keep your existing shares.

Please see below for a breakdown of the tender offer:

- You can ask to sell (tender) some or all of your shares at a specific price which is not less than USD6.75, or greater than USD7.25 (in increments of USD0.05, e.g. USD6.75, USD6.80, USD6.85, USD6.90, etc.) Alternatively you can ask to tender at the eventual purchase price, which will be determined on completion of the offer.

- The eventual purchase price will be the lowest price within the range at which the company can accept tenders totalling up to USD6.16 million.

- If you tender your shares at a price higher than the purchase price your instruction will be rejected and your shares will be returned to you.

- If you tender your shares at a price less than or equal to the eventual purchase price, you’ll receive the purchase price for any shares successfully sold. However, depending on the total number of elections, you may not sell all of the shares you ask to tender. As your shares are held with Hargreaves Lansdown scaling back of excess elections may not be on the same terms as those announced by the company.

- Non-US resident shareholders who sell shares in the offer may receive some of the proceeds as income, subject to US Withholding Tax. We cannot confirm how much of the proceeds may be received as income.

- Any proceeds will be converted to Sterling upon receipt subject to the prevailing exchange rate at that time and our standard currency conversion fees.

- Shareholders holding 99 shares or less who tender their entire holding at a price at or below the eventual purchase price will receive priority under the offer.

- You can make your election conditional on a minimum number of shares being successfully sold in the offer.

Tender shares – Act by noon on Friday 5 July 2024

If you wish to split your tender between different prices or make your election conditional on a minimum number of shares being successfully sold in the offer, please contact us with your instruction.

Full details of this event will be sent to Qualifying Hargreaves Lansdown clients by either post or secure message. Please note that any instruction you give must be based on the full details provided in the letter and not on the summary information outlined above.