SL Industries Announces Preliminary Results of its Tender Offer to Repurchase Up to $10 Million of Shares of Common Stock
Industries, Inc. (NYSE: SLI) today announced the preliminary results of its modified "Dutch auction" tender offer, which expired at 12:00 Midnight, New York City Time, on June 27, 2012.
Based on the preliminary analysis by the depositary, an aggregate of 307,285 shares were properly tendered and not withdrawn, including approximately 21,722 shares that were tendered through notice of guaranteed delivery, at prices at or below $13.50. Accordingly, pursuant to the terms of the Offer to Purchase, the Letter of Transmittal and applicable securities laws, the Company expects to accept for payment up to an aggregate of 307,285 shares of its common stock at a purchase price of $13.50 per share.
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