Lifeway Announces Final Results of Self-Tender Offer
August 02 2017 - 1:19PM
Lifeway Foods, Inc. (Nasdaq:LWAY), “Lifeway” or the “Company,” the
leading U.S. supplier of kefir cultured dairy products, announced
today the final results of its “modified Dutch auction” tender
offer for up to $6 million of its common stock at a price per
share not less than $8.50 and not greater than $9.50. The
tender offer expired at 5:00 P.M., New York City time, on July 25,
2017.
Based on the final count by the depositary for the tender offer,
a total of 85,665 shares of the Company’s common stock were validly
tendered and not validly withdrawn at or below the price of $9.50
per share. Since the tender offer was not fully subscribed, no
proration was required and all shares validly tendered and not
validly withdrawn were accepted for purchase at the same purchase
price of $9.50 per share. As such, the Company accepted for
purchase a total of 85,665 shares of the Company’s common stock at
a purchase price of $9.50 per share, for a total cost of
approximately $814,000, excluding fees and expenses related to the
tender offer. These shares represent approximately 0.5% of the
Company’s total outstanding common stock as of July 31, 2017. The
depositary for the tender offer will promptly pay for the shares
accepted for purchase pursuant to the tender offer.
The dealer manager for the tender offer was Georgeson Securities
Corporation. Georgeson LLC served as information agent for the
tender offer and Computershare, Inc. served as the depositary for
the tender offer.
About Lifeway Foods, Inc.
Lifeway Foods, Inc. (LWAY), recently named one of Forbes’ Best
Small Companies, is America’s leading supplier of the probiotic,
fermented beverage known as kefir. In addition to its line of
drinkable kefir, the company also produces frozen kefir, specialty
cheeses and a ProBugs line for kids. Lifeway’s tart and tangy
cultured dairy products are available throughout the United States
and on a small, but growing basis in Canada, Latin America,
Ireland, and the United Kingdom. Learn how Lifeway is good for more
than just you at www.lifewaykefir.com.
Contact:
Lifeway Foods, Inc.
Phone: 847.967.1010
Email: info@lifeway.net
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