Vertrue Incorporated (Nasdaq: VTRU), a leading marketing solutions company, announced today that its Board of Directors has authorized a self-tender offer for up to 500,000 shares of its common stock, which represents approximately 5 percent of its outstanding shares. The tender offer will be in the form of a “modified Dutch auction tender offer” in which stockholders will be given the opportunity to sell part or all of their shares to the Company at a price of not less than $30.00 per share and not more than $35.00 per share. This price range represents a 5.9 percent discount to a 9.8 percent premium when compared to the November 5, 2004 closing price of $31.874 per share. Based upon the minimum and maximum offering prices specified in the offer, the aggregate purchase price, if 500,000 shares are purchased, would range from $15.0 million to $17.5 million.
From 2002-2019, David Evans helped entrepreneurs, investors, and the media, make sense of the online dating industry.
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