FBR & Co. to Buy 4M Shares at $3.25-3.50/Share
FBR & Co. (Nasdaq: FBRC) today announced the final results of its previously announced modified "Dutch auction" tender offer to purchase up to 4 million shares of its common stock at a price between $3.25 and $3.50, which expired at 12:00 midnight, New York City time, on Tuesday, December 18, 2012. FBR has accepted for purchase 193,666 shares of its common stock at a purchase price of $3.50 per share. The tender offer was not subject to proration. Payment for the shares accepted for purchase under the tender offer will be made promptly, and any shares tendered and not purchased will be promptly returned to stockholders.
FBR is purchasing the shares, which represent approximately 0.4% of the shares outstanding as of December 21, 2012, at a total cost of $677,831, excluding fees and expenses relating to the tender offer. FBR expects to have approximately 48,819,850 shares of its common stock outstanding immediately following consummation of the tender offer.
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