Sierra Income Corp. launched a tender offer to buy for cash up to 890,089 of its issued and outstanding common shares at $7.49 apiece, representing the company's net asset value per share as of March 31.
The transaction value is roughly $6.7 million, estimated solely to calculate the filing fee. The offer will expire at 11:59 p.m. ET on June 21, unless extended.
The purpose of the offer is to provide stockholders with a measure of liquidity because there is no public market for the company's common shares.
