PRESS
RELEASE
FOR IMMEDIATE
RELEASE:
RWD
ACQUISITION I LLC ANNOUNCES EXPIRATION OF TENDER OFFER
New York, NY – June 2, 2008 —
RWD Acquisition I LLC (“RWD”) announced today that the offering period to its
previously announced tender offer for up to 4,000,000 shares of common stock,
par value $0.0001 per share (the "Shares") of Pharmacyclics, Inc.
("Pharmacyclics") expired at midnight, New York time, on May 30, 2008. Based
upon a preliminary tally by The Colbent Corporation, the depositary for the
offer, 1,758,060 Shares were tendered and approximately 224,621 additional
Shares were guaranteed for delivery within three trading days, for a preliminary
total of 1,982,681 Shares (representing approximately 7.6% of all outstanding
Shares). All tendered Shares were accepted for payment pursuant to the terms of
the offer. Payment for Shares accepted for purchase is expected to be made
promptly.
After
giving effect to the results of the offer and previous share acquisitions,
Robert W. Duggan, who is the sole member of RWD, may the beneficial holder of up
to 6,370,097 Shares, representing approximately 24.5% of all outstanding Shares.
According to Pharmacyclics’ most recent Quarterly Report on Form 10-Q for the
quarter ended March 31, 2008, filed with the Securities and Exchange Commission
on April 29, 2008, as of that date, there were 25,994,490 Shares issued and
outstanding, entitled to one vote per Share.
Questions
should be directed to the offer information agent, Mackenzie Partners, Inc., at
1-800-322-2885.