Utah Medical Products has extended its offer to buy back shares until October 27, giving shareholders another 20 days to decide whether to participate, the company announced October 5. The Salt Lake City medical-device maker trades on Nasdaq as UTMD.
The company is offering $75 per share for up to 650,000 shares. That would total $48.75 million if the full amount is purchased, calculated from the announced price and share limit. A tender offer lets shareholders choose whether to sell shares back to the company on specified terms.
The new deadline is 5 p.m. New York time on October 27, replacing October 7. Utah Medical said its third-quarter results are scheduled for October 22, allowing shareholders to consider those figures before the offer closes.
According to the company, the other offer conditions are unchanged. The announcement extends an outstanding offer; it does not report a completed repurchase.