Mastech (MHH) Updates on Preliminary 'Dutch Auction' Tender Results
Tweet
Share
E-mailGet Alerts MHH Hot Sheet
Join SI Premium – FREE
Mastech Holdings, Inc. (AMEX: MHH), announced the preliminary results of its modified Dutch auction tender offer, which expired at 5:00 pm, New York City time, on Wednesday, March 7, 2012.
Based on the preliminary count by BNY Mellon Shareowner Services, the depositary for the tender offer, a total of 429,886 shares of Mastech's common stock were properly tendered and not properly withdrawn at or below the purchase price of $5.50 per share, including 17,286 shares that were tendered through notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, Mastech expects to acquire approximately 429,886 shares of its common stock at a price of $5.50 per share, for an aggregate cost of approximately $2,364,373, excluding fees and expenses relating to the tender offer. These shares represent approximately 12 percent of the shares of common stock outstanding as of February 6, 2012, the last trading day before the commencement of the tender offer.
Based on the preliminary count by BNY Mellon Shareowner Services, the depositary for the tender offer, a total of 429,886 shares of Mastech's common stock were properly tendered and not properly withdrawn at or below the purchase price of $5.50 per share, including 17,286 shares that were tendered through notice of guaranteed delivery.
In accordance with the terms and conditions of the tender offer, and based on the preliminary count by the depositary, Mastech expects to acquire approximately 429,886 shares of its common stock at a price of $5.50 per share, for an aggregate cost of approximately $2,364,373, excluding fees and expenses relating to the tender offer. These shares represent approximately 12 percent of the shares of common stock outstanding as of February 6, 2012, the last trading day before the commencement of the tender offer.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Ubiquiti extends $500M stock buyback program through 2027
- Getty Realty discloses separation terms for departing accounting officer
- Professional Diversity Network forms AI subsidiary with no assets yet
Create E-mail Alert Related Categories
Corporate News, Stock BuybacksSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
