Brief: Nicholas to repurchase up to $70.0 million of common shares through modified Dutch auction tender offer by its principal operating subsidiary

Old Market Capital

10/02/2015 16:35

Feb 10 (Reuters) - Nicholas Financial Inc  NICK.O : 
 * To repurchase up to $70.0 million (but not less than $50.0 million) of common 
   shares through modified Dutch auction tender offer by its principal operating 
   subsidiary 
 * Says intends to finance the share repurchase from borrowings under its 
   recently amended credit facility 
 * Nicholas financial -co shareholders can tender some or all of their shares at 
   a price per share of not less than $14.60 and not greater than $15.60 
 * At $14.60 per share, Nicholas would repurchase maximum of 4.79 million 
   shares, or about 38.9%, of nicholas' common shares 
  
 * Source text for Eikon  ID:nGNXVCSRBa  
 
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