Universal Logistics Holdings, – GuruFocus.com
WARREN, Mich., June 21, 2022 /PRNewswire/ — Universal Logistics Holdings, Inc. (NASDAQ: ULH) today announced the final results of its amended “Dutch Auction” tender offer to repurchase up to 100,000 shares of outstanding common stock, which expired at 5:00 p.m. Eastern Timeon Wednesday, June 15, 2022.
Pursuant to the terms and conditions of the tender offer, the Company has agreed to purchase an aggregate of 164,189 common shares, representing approximately 0.62% of the issued and outstanding shares of the Company, at a price of final purchase of $28.00 per share. Payment for the shares accepted for purchase under the public offer will be made without delay, at a total cost to the Company of approximately $4.6 millionexcluding costs and charges related to the offer.
The Company expects to have approximately 26,277,549 common shares outstanding immediately upon completion of the tender offer. The aggregate amount of shares purchased under the tender offer reflects the Company’s right to increase the tender offer by up to two percent (2%) of its outstanding shares and includes 5,000 shares contributed by a director of the Company, Mr. HE “Scott” Wolfe.
The Company may purchase additional shares in the future on the open market subject to market conditions and private transactions, take-over bids or otherwise. However, under applicable securities laws, the Company may not redeem shares until June 30, 2022. Whether the Company will make additional purchases in the future will depend on many factors, including the number of shares purchased under this tender offer, its business and financial performance and condition, business and market conditions at that time, including the price of the shares, and other factors the Company deems relevant.
The Company has retained Georgeson LLC as information agent for the tender offer. All questions regarding the tender offer should be directed to the Information Agent at 866-695-6074 (toll free).
Universal Logistics Holdings, Inc. is a holding company that, through its consolidated subsidiaries, is a leading asset-light provider of custom transportation and logistics solutions across United Statesand in Mexico, Canadaand Colombia. The Company’s operating subsidiaries provide customers with a wide range of services across their entire supply chain, including truckload, brokerage, intermodal, dedicated and value-added services.
Some of the statements contained in this press release may be considered forward-looking statements. These statements identify forward-looking information. Forward-looking statements can be identified by words such as: “expect”, “anticipate”, “intend”, “plan”, “goal”, “seek”, “believe”, “project” , “estimate”, “future”. ,” “likely”, “may”, “should” and similar references to future periods. Forward-looking statements are based on information available at the time and/or management’s good faith belief regarding future events. and are subject to risks and uncertainties that could cause actual results or performance to differ materially from those expressed in the statements.These forward-looking statements are subject to a number of factors that may cause actual results to differ materially from the expectations described. Additional information about factors that could adversely affect these forward-looking statements is contained in the Company’s reports and filings with the Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect actual results, changes in assumptions or changes in other factors affecting forward-looking information, except as required by applicable securities laws.
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SOURCEUniversal Logistics Holdings, Inc.