Independence Holding Company Announces Commencement of Tender Offer to Repurchase up to 1,000,000 Shares of Its Common Stock
Independence Holding Company (IHC)
US:NYSE Investor Relations:
ir.ihcgroup.com/investor-relations
Company Research
Source: GlobeNewswire
STAMFORD, Conn., April 24, 2020 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE: IHC) announced today that it has commenced a tender offer to purchase up to 1,000,000 shares of its common stock at a price per share of $27.00, net to the seller in cash, without interest, less any applicable withholding taxes (the “Purchase Price”). The maximum number of shares proposed to be purchased in the tender offer represents approximately 6.8% of the 14,785,565 shares of IHC common stock outstanding as of April 24, 2020 and involves a gross aggregate purchase price of $27 million, assuming the maximum number of shares are tendered. The tender offer will expire at 5:00 p.m., Eastern time, on Thursday, May 21, 2020, unless extended by IHC. Tenders of shares must be made on or prior to the expiration of the tender offer and may be withdrawn at any time on or prior to the expiration of the tender offer. The tender offer is subject to a number of terms and conditions described in the Offer
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