Wednesday, March 26, 2008 (USA)
Steven Madden Ltd, a leading designer, wholesaler and marketer of fashion footwear and accessories for women, men and children, announced the final results of its modified "Dutch Auction" tender offer, which expired at 12:00 midnight, New York City time on Tuesday, March 18, 2008.
Steven Madden Ltd has accepted for purchase 2,600,000 shares of common stock at a price of $17.00 per share, totaling $44.2 million. These shares represent approximately 12.9% of the shares outstanding. An aggregate of 3,227,534 shares of common stock were properly tendered and not withdrawn at a price of $17.00 or less per share.
Steven Madden Ltd will purchase 2,600,000 shares, resulting in a proration factor of approximately 80.6% of the shares tendered, other than the "odd lot" shares properly tendered at the $17.00 purchase price, which will be purchased prior to proration.
The depositary will promptly pay for the shares accepted for purchase. With completion of the tender offer, Steven Madden, Ltd. now has approximately 17.6 million shares of common stock outstanding.
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