Independence Holding Company Announces Intention to Commence 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 17, 2020 (GLOBE NEWSWIRE) -- Independence Holding Company (NYSE:IHC) announced today that it intends to commence a tender offer by the end of this month to purchase up to 1,000,000 shares of its common stock at a price per share of $27.00. The number of shares currently proposed to be purchased in the tender offer represents approximately 6.8% of IHC’s currently outstanding shares of common stock and involves an aggregate purchase price of up to $27 million. The Board of Directors of IHC has determined to commence the tender offer in order to provide liquidity to its stockholders by permitting them the opportunity to tender shares of IHC common stock for cash in accordance with the terms of the offer to purchase that will be filed with the Securities and Exchange Commission. None of IHC, its Board of Directors or the information agent or the depositary for the tender offer will make any recommendations to stockholders as to whether to tender or refrain
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