Utah Medical Products launches tender offer for 20% of shares at $75

Utah Medical Products, Inc. (NASDAQ: UTMD) announced plans to repurchase up to 650,000 of its shares at $75.00 per share through a self-tender offer, representing approximately 20% of its currently outstanding shares.

The tender offer is set to commence September 22, 2026, and will expire 15 business days later, unless extended. Stockholders may tender shares on or before October 7, 2026. The company said the offering price is 17% above the average daily closing price over the past 12 months and 21% above the two-year average. The highest intraday trading price over the past two years was $75.75.

If the offer is oversubscribed, shares will be purchased first from stockholders owning fewer than 100 shares who tender all such shares, then from remaining tendered shares on a pro rata basis. The company reserves the right to purchase more than 650,000 shares, and the offer is not conditioned on any minimum number of shares being tendered.

The company's board of directors approved the offer but is making no recommendation to stockholders on whether to tender their shares.

Chairman and CEO Kevin Cornwell said in a statement that "UTMD remains a healthy business with excess cash capable of providing the funds needed to repurchase shares," and cited a desire to give investors an opportunity to sell at a premium while enhancing value for remaining stockholders.

Full offer details will be distributed to stockholders and filed with the SEC.

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