Business Development Corp. of America has adjusted its plan to purchase common shares as part of a tender offer.
According to a filing, the company will now purchase no fewer than 3,300,000 shares and up to about 3,600,000 common shares at $8.52 per share. The company originally said it would buy up to 9,010,785 of its common shares.
The tender will expire at 11:59 p.m. ET on July 6, unless extended. The offer aims to provide stockholders with some liquidity because there is no public market for the company's common stock.