Scholastic announces final results of modified Dutch Auction tender offer

Scholastic (SCHL) announced the final results of its “modified Dutch Auction” tender offer for shares of its common stock, which expired on April 20. A total of 2,834,018 shares of Scholastic’s common stock, par value 1c per share were properly tendered and not properly withdrawn at or below the purchase price of $40.00 per Share, including 989,343 Shares that were tendered by notice of guaranteed delivery. Scholastic has accepted for purchase a total of 2,834,018 Shares through the tender offer at a price of $40.00 per Share, for an aggregate cost of $113,360,720.00, excluding fees and expenses relating to the tender offer. The total of 2,834,018 Shares that Scholastic has accepted for purchase represents approximately 13.7% of the total number of Shares outstanding as of April 19.