Utah Medical launches $75-per-share self-tender offer

Utah Medical Products ($UTMD) commenced a tender offer to repurchase up to 650,000 common shares at $75 each. At full acceptance, the share purchase would total $48.75 million before related costs. The offer follows previously announced terms and gives shareholders a defined mechanism to tender stock rather than relying on an open-market repurchase program.

The scheduled expiration is October 7 at 5 p.m. New York time, unless extended. A subsequent clarification corrected the weekday to Wednesday without changing the date, price or purchase cap. The board approved the offer but is not recommending whether shareholders should participate. Purchases remain governed by the offer conditions, and the maximum amount should not be reported as cash already spent.

Sources:

• Utah Medical — commencement of tender, ACCESS Newswire release
• Utah Medical — corrected expiration weekday, ACCESS Newswire release