Easy spread, with minimal cancellation or amendment risk.
This is a standard self-tender. It will likely be oversubscribed, but odd-lot holders (those with fewer than 100 shares) will get priority treatment.
The offer comes after the company’s share price got beaten down by 50%+ last year. The largest shareholder and management are not participating, signaling the stock is undervalued.
The company has already done a similar offer once 2 years ago, but at a much higher price. It closed successfully…
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