Syms Corp reports final results of Its 'Dutch Auction' self-tender offer
30 May '06
1 min read
Off-price apparel retailer Syms Corp has announced the final results of its 'Dutch Auction' self-tender offer to purchase up to 3,350,000 shares of its outstanding common stock at a price not less than $16.00 and not greater than $18.00 per share, which expired on Friday, May 26th 2006.
Based on the final count by the American Stock Transfer & Trust Company, the depositary for the tender offer, 436,286 shares were properly tendered and not withdrawn at or below a price of $18 per share, which the company will purchase at $18 per share for a total cost of $7,853,148.
Payment for the shares accepted for purchase will be made promptly by the depositary. As a result of completing the tender offer, Syms Corp will have 14,500,801 shares of common stock outstanding.
Syms Corp currently operates a chain of thirty seven 'off-price' apparel stores located throughout the Northeastern and Middle Atlantic regions and in the Midwest, Southeast and Southwest. Each Syms store offers a broad range of first quality, in-season merchandise bearing nationally recognized designer and brand-name labels.
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