Mannatech Announces Final Results of Tender Offer
June 30 2021 - 5:00AM
Business Wire
Mannatech, Incorporated
("Mannatech" or the "Company") (NASDAQ: MTEX), a global health and
wellness company committed to transforming lives to make a better
world, announced today the final results of its cash tender offer,
which expired at 12:00 midnight, New York City time, at the end of
Friday, June 25, 2021, to purchase up to 211,538 shares of its
outstanding common stock, par value $0.0001 per share, at a per
share price of $26.00 (the "tender offer").
Based on the final count by Computershare Trust Company, N.A.,
the depositary for the tender offer (the "Depositary"), a total of
171,433 shares of common stock of the Company were properly
tendered and not properly withdrawn.
In accordance with the terms and conditions of the tender offer,
the Company accepted for payment a total of 171,433 shares of
common stock of the Company at a cash purchase price of $26.00 per
share, for a total cash cost of approximately $4,457,258, excluding
fees and expenses relating to the tender offer. Such shares of
common stock represented approximately 8.31% of the Company's total
outstanding shares as of April 30, 2021. The Depositary will
promptly pay for the shares accepted for purchase.
The Company funded the share purchase in the tender offer from
cash on hand.
The Company's tender offer was made pursuant to an Offer to
Purchase and Letter of Transmittal, each dated May 28, 2021.
About Mannatech
Mannatech, Incorporated is committed to transforming lives
through the development of high quality integrated health, weight
management, fitness and skin care products distributed through its
global network of independent associates and members. The company
has been operating for more than 25 years with operations in 25
markets^. For more information, visit Mannatech.com.
^ Mannatech operates in China under a cross-border e-commerce
platform that is separate from its network marketing model.
Please Note: This release contains “forward-looking statements.”
These forward-looking statements generally can be identified by use
of phrases or terminology such as “may,” “will,” “should,” “hope,”
“could,” “would,” “expects,” “plans,” “intends” “anticipates,”
“estimates,” “approximates,” “predicts,” “projects,” “potential,”
and “continues” or other similar words or the negative of such
terminology. Similarly, descriptions of Mannatech’s objectives,
strategies, plans, goals or targets contained herein are also
considered forward-looking statements. Mannatech believes this
release should be read in conjunction with all of its filings with
the United States Securities and Exchange Commission (“SEC”) and
cautions its readers that these forward-looking statements are
subject to certain events, risks, uncertainties and other factors.
Some of these factors include, among others, the price at which
shares of Mannatech’s common stock may trade on Nasdaq, which may
be higher or lower than the purchase price in the tender offer, the
impact of the outbreak of the novel coronavirus ("COVID-19")
pandemic, Mannatech’s inability to attract and retain associates
and preferred customers, increases in competition, litigation,
regulatory changes and its planned growth into new international
markets. Although Mannatech believes that the expectations,
statements and assumptions reflected in these forward-looking
statements are reasonable, it cautions readers to always consider
all of the risk factors and any other cautionary statements
carefully in evaluating each forward-looking statement in this
release, as well as those set forth in its latest Annual Report on
Form 10-K and Quarterly Report on Form 10-Q, and other filings
filed with the United States SEC, including its current reports on
Form 8-K. All of the forward-looking statements contained herein
speak only as of the date of this release.
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version on businesswire.com: https://www.businesswire.com/news/home/20210630005354/en/
Mannatech, Incorporated Donna Giordano, 972-471-7849
Manager, Executive Office Administration ir@mannatech.com
www.mannatech.com
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