Gleacher & Company, Inc. GLCH today announced the final results of
its modified “Dutch auction” tender offer to purchase up to 6 million shares
of its common stock, which expired at 12:00 midnight, New York City time, on
November 22, 2011.
Gleacher has accepted for purchase 6,601,313 shares of its common stock at a
purchase price of $1.25 per share. Included within the shares accepted for
purchase are 601,313 additional common shares that Gleacher elected to
purchase pursuant to its option to increase the size of the offering by up to
2% of the outstanding shares of its common stock. The tender offer was not
subject to proration. Payment for the shares accepted for purchase under the
tender offer will be made promptly, and all shares tendered and not purchased
will be returned promptly to stockholders.
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