Desert Equity LP Commences Tender for 3.74M Shares of White Electronic Designs Corporation At $4.25 A Share
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Desert Equity LP announced that it has commenced its previously announced cash tender offer for up to a total of 3,740,000 shares of common stock, or approximately 16.3% of the shares outstanding, of White Electronic Designs (Nasdaq: WEDC), at a price of $4.25 net per share in cash.
The offer price represents an approximately 5% premium over the Company's closing stock price of $4.05 on August 12, 2009 (the last trading day before the announcement of the intention to make the Offer). The Offer is subject to a number of conditions customary for transactions of this type, but will not be subject to any financing contingency.
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