Mannatech announced the initial results for its cash tender offer to purchase up to 211,538 shares of its outstanding common stock, par value $0.0001 per share, at a per share price of $26.
A preliminary count reveals that a total of 169,622 shares of common stock were properly tendered and not properly withdrawn, excluding 4,627 shares that were tendered by notice of guaranteed delivery.
In alignment with the conditions of the offer, Mannatech expects to accept for payment a total of 174,249 shares of common stock at a cash price of $26 per share, for a total cash cost of approximately $4,530,474. This total does not account for related fees and expenses.
These shares will represent 8.45% of the company’s total outstanding shares and will be funded from cash on hand.
