Dell Technologies Closes Class V Transaction

(RTTNews) - Dell Technologies announced the successful completion of the Class V transaction following approval of the transaction by its stockholders at a special meeting held on December 11, 2018.

Dell Technologies said it paid $14 billion in cash and issued 149.39 million shares of its Class C common stock in connection with the Class V transaction.

Dell Technologies Class V common stock (DVMT) ceased trading prior to the opening of trading on December 28, 2018.

Dell Technologies Class C common stock (DELL) began trading on December 26, 2018 on a when-issued basis and begins trading today on a regular-way basis on the New York Stock Exchange.

Each outstanding share of Class V common stock has converted into the holder's right to receive either $120.00 in cash, without interest, subject to a cap of $14 billion on the aggregate cash consideration, or 1.8066 shares of Class C common stock.

Such exchange ratio was calculated based on the aggregate amount of cash elections , as well as the aggregate volume-weighted average price per share of Class V common stock on the New York Stock Exchange for the 17 consecutive trading day period that began on November 28, 2018 and ended on December 21, 2018, which was $104.8700.

Following the completion of the Class V transaction, Dell Technologies has approximately 171.91 million outstanding shares of Class C common stock (or approximately 206.48 million shares on a fully diluted basis, before applying the treasury stock method) and approximately 718.43 million shares of common stock in total (or approximately 763.91 million shares on a fully diluted basis, before applying the treasury stock method).