Business
Optex Systems Holdings, Inc. Commences Tender Offer To Purchase Up to $4.25 Million in Value of Shares of Its Common Stock
RICHARDSON, TX / ACCESSWIRE / August 18, 2022 / Optex Systems Holdings, Inc. (OTCQB:OPXS) ("Optex"), a leading manufacturer of precision optical sighting
About this update from Optex Systems Holdings, Inc.
[{"type":"text","content":"RICHARDSON, TX / ACCESSWIRE / August 18, 2022 / Optex Systems Holdings, Inc. (OTCQB:OPXS) (\"Optex\"), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced today that it commenced a \"modified Dutch auction\" tender offer to purchase up to $4.25 million in value of shares of its common stock, par value $0.001 per share (CUSIP number: 68384X209) (the \"Common Stock\"), or such lesser number of shares of Common Stock as properly tendered and not properly withdrawn, at a price not greater than $2.75 nor less than $2.35 per share of Common Stock (in multiples of $0.10 per share), net to the seller in cash, less any applicable withholding taxes and without interest (the \"Offer\"). The Offer is not conditioned upon any minimum number of shares of Common Stock being tendered. The Offer is made upon the terms and subject to the conditions described in the Offer to Purchase and in the related Letter of Transmittal, as they may be amended or supplemented from time to time, that are being filed by Optex with the U.S. Securities and Exchange Commission (the \"SEC\") on August 18, 2022 and are being sent to holders of Common Stock or designated brokers or other nominees, as applicable.The closing price of the Common Stock on the OTCQB marketplace on August 17, 2022, the last full day of trading before commencement of the Offer, was $2.00 per share. The Offer is scheduled to expire at 5:00 P.M., New York City time, on September 15, 2022, unless the Offer is extended. Stockholders must tender their shares of Common Stock prior to the expiration of the Offer and may withdraw any tendered shares at any time prior to the expiration of the Offer.InvestorCom (\"InvestorCom\") is serving as the information agent for the Offer and Continental Stock Transfer & Trust Company is serving as the depositary for the Offer. There is no dealer manager for the Offer. Any questions or requests for assistance in tendering shares of Common Stock in the Offer should be directed to InvestorCom at (877) 972-0090.Optex's board of directors has authorized the Offer. However, none of Optex, any member of its board of directors, the information agent or the depositary makes any recommendation as to whether any stockholder should tender or refrain from tendering shares of Common Stock in ...