FLOWER MOUND, Texas--(BUSINESS WIRE)--Jun. 20, 2018--
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 modified
Dutch auction tender offer, which expired at 12:00 midnight, New York
City time, at the end of Friday, June 15, 2018, to purchase up to an
aggregate of $16 million in value of its outstanding common stock, par
value $0.0001 per share, at a per share price not greater than $21.00
nor less than $18.50 per share (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 316,659
common shares of the Company were properly tendered and not properly
withdrawn at or below the price of $21.00 per share.
In accordance with the terms and conditions of the tender offer, the
Company accepted for payment a total of 316,659 common shares of the
Company at a cash purchase price of $21.00 per share, for a total cash
cost of approximately $6.6 million, excluding fees and expenses relating
to the tender offer. These common shares represented approximately 11.6%
of the Company's total outstanding shares as of April 30, 2018. 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 18, 2018.
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 20 years with operations in 26 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,” “believes,”
“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 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, 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 Securities and Exchange Commission,
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20180620005675/en/
Source: Mannatech, Incorporated
Mannatech, Incorporated
Diane Barton, 972-471-8116
pr@mannatech.com
or
Donna
Giordano, 972-471-6512
Manager, Executive Office Administration
ir@mannatech.com
www.mannatech.com