Sutter Rock Capital Corp.'s board has commenced a modified Dutch auction tender offer to repurchase up to $10 million of its common stock.
The common shares will be purchased using available cash, at a minimum price of $6 per share and a maximum price of $8 per share in 10-cent increments. The company expects to purchase between 1,250,000 shares and 1,666,667 shares, or between 6.57% and 8.77%, respectively, of its outstanding common shares.
The offer will expire at 5 p.m. ET on Nov. 20, unless extended.
D.F. King & Co. Inc. will act as the information agent for the offer. American Stock Transfer & Trust Company LLC will act as the depository.