Press release
Universal Logistics Holdings, Inc. Announces Final Results of its Self-Tender Offer
WARREN, Mich., June 21, 2022 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) today announced the final results of its modified "Dutch
About this update from Universal Logistics Holdings, Inc.
[{"type":"text","content":"WARREN, Mich., June 21, 2022 /PRNewswire/ -- Universal Logistics Holdings, Inc. (NASDAQ: ULH) today announced the final results of its modified \"Dutch auction\" tender offer to repurchase up to 100,000 shares of its outstanding common stock, which expired at 5:00 p.m., Eastern Time, on Wednesday, June 15, 2022.\n\n \n \n \n \n \n \n\n \nIn accordance with the terms and conditions of the tender offer, the Company has accepted for purchase a total of 164,189 shares of its common stock, representing approximately 0.62% of the Company's issued and outstanding shares, at a final purchase price of $28.00 per share. Payment for the shares accepted for purchase under the tender offer will be made promptly, at a total cost to the Company of approximately $4.6 million, excluding fees and expenses related to the offer.\nThe Company expects to have approximately 26,277,549 shares of its common stock outstanding immediately following consummation of the tender offer. The total amount of shares purchased in the tender offer reflects the Company's right to increase the tender offer by up to two percent (2%) of its outstanding shares and includes 5,000 shares tendered by a director of the Company, Mr. H.E. \"Scott\" Wolfe.\nThe Company may purchase additional shares in the future in the open market subject to market conditions and private transactions, tender offers or otherwise. Under applicable securities laws, however, the Company may not repurchase any shares until June 30, 2022. Whether the Company makes additional repurchases in the future will depend on many factors, including the number of shares purchased in this tender offer, its business and financial performance and situation, the business and market conditions at the time, including the price of the shares, and other factors the Company considers relevant.\nThe Company has retained Georgeson LLC as the information agent for the tender offer. All questions regarding the tender offer should be directed to the information agent at 866-695-6074 (toll free).\nAbout Universal \nUniversal Logistics Holdings, Inc. is a holding company that, through its consolidated subsidiaries, is a leading asset-light provider of customized transportation and logistics solutions throughout the United States, and in Mexico, Canada, and Colombia. The Company's operating subsidiaries offer customers a broa...