Utah Medical Products, Inc. (NASDAQ:UTMD) has reported the outcome of its issuer tender offer, which expired Tuesday October 27. The company said 322,215 shares of common stock were purchased at $75.00 per share.
#Tender Offer Results
The offer covered up to 650,000 shares. Utah Medical Products said the shares acquired represented total purchase consideration of $24,166,125.
Following the offer, 2,854,566 UTMD shares remained outstanding at that date. This figure includes 1,775 employee option exercises in October.
#Costs and Fees
The company said $107,660 in administration fees will be paid to Georgeson/Computershare Inc. It also reported $6,732 in filing fees to the SEC.
Utah Medical Products reported the effective cost of the tender offer as 75.36/ share. The federal government will also levy another 1% excise tax on share repurchases.
#Company Background
Utah Medical Products develops, manufactures and markets disposable and reusable specialty medical devices. The company has a particular interest in health care for women and their babies, and said its products are recognised by clinicians in over a hundred countries around the world as the standard for obtaining optimal long-term outcomes for their patients.
#Key Takeaways
- The issuer tender offer expired Tuesday October 27.
- Utah Medical Products purchased 322,215 shares at $75.00 per share.
- The purchase consideration was $24,166,125.
- Shares outstanding after the offer were reported at 2,854,566, including 1,775 employee option exercises in October.
- The company reported $107,660 in administration fees, $6,732 in SEC filing fees and an effective cost of 75.36/ share; another 1% excise tax will be levied on share repurchases.
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