Mannatech set to open at highest in over 5-1/2 years on cash tender offer
28/05/2021 11:57
** Shares of wellness products provider MTEX.O rise 22.2%
to $25.05 premarket and set to open at their highest level since
Nov 2015
** Co to conduct a cash tender offer to purchase up to
211,538 shares, at a price of $26/shr, implying a premium of
~26.8% as of stock's last close urn:newsml:reuters.com:*:nBw5JZzg6a
** Georgeson Securities Corp will be the dealer manager,
Georgeson LLC will serve as the information agent, and
Computershare Trust Company will serve as the depositary
** Co's market cap is $42.3 mln with 2.06 mln total
outstanding shares - Refinitiv data
** About 4,776 shares of the Flower Mound, Texas-based
company have traded premarket, ~261% of their 25-DMA volume
** Stock up 10.2% YTD
(Reporting by Devik Jain in Bengaluru)
((Devik.Jain@thomsonreuters.com; within U.S. +1 646 223 8780;
outside U.S. +91 80 6182 2062; ;))