thinkorswim determines threshold exercise price in exchange offer

By Lisa Kerner

Charlotte, N.C., June 10 - thinkorswim Group Inc. announced that the threshold exercise price in its exchange offer ending at 4 p.m. ET on Thursday is $10.50.

Options granted to eligible individuals with a per-share exercise price equal to or greater than the threshold exercise price are eligible for the exchange offer.

The threshold price represents the sum of $3.34 and the product of 0.398 times $17.991, the volume-weighted average price for a share of common stock of TD Ameritrade Holding Corp., rounded to the nearest one-tenth of a cent, as reported on the Nasdaq Global Select Market for Wednesday, according to a thinkorswim news release.

TD Ameritrade agreed in January to acquire thinkorswim in a cash-and-stock transaction valued at approximately $606 million.

As previously reported, each thinkorswim share will be exchanged for $3.34 in cash and 0.398 TD Ameritrade shares.

thinkorswim shareholders will receive a total of $225 million in cash and about 28 million shares of TD Ameritrade.

On Tuesday, thinkorswim shareholders approved the deal.

TD Ameritrade, an Omaha securities brokerage services and technology-based financial services company, said previously it expects to close the acquisition on Thursday.

thinkorswim is an online brokerage and investor education company based in Chicago.

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