Expensify completes $7.3 million tender offer for 6.1 million shares

Expensify Inc. (NASDAQ: EXFY) announced it accepted 6,053,023 shares of Class A common stock for purchase at $1.20 per share through its tender offer that expired June 10, 2026.

The expense management company paid a total of $7,263,627.60, excluding fees and expenses, for the shares. The purchase represents approximately 6.8% of the company's total outstanding Class A common stock as of June 10, 2026.

The tender offer was structured as a modified Dutch auction with a price range between $0.98 and $1.20 per share, with a maximum purchase amount of $25 million. Based on the final count by the depositary, 6,053,023 shares were validly tendered at or below the $1.20 per share price.

Expensify purchased approximately 100% of shares from stockholders who submitted auction tenders at $1.20 or less per share and purchase price tenders, with odd lot holders receiving priority treatment. The company funded the purchase with cash on hand.

Citizens JMP Securities LLC served as dealer manager for the tender offer, while Georgeson LLC acted as information agent and Computershare Trust Company N.A. served as depositary.

The depositary will promptly pay for the accepted shares in cash without interest, subject to applicable withholding taxes.

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