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ProPhase Labs repurchases $4.5M shares in tender offer

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ProPhase Labs repurchases $4.5M shares in tender offer

ProPhase Labs Inc. accepted 1,948,569 common shares for purchase at $2.30 apiece for about $4.5 million in its oversubscribed tender offer.

The accepted shares include all odd lots validly tendered in the offer, which expired at midnight ET Dec. 18.

Based on the final arrangement 2,072,280 ProPhase shares were properly tendered and not withdrawn.

Following the purchase, the company expects to have 11,079,892 common shares outstanding.

MacKenzie Partners Inc. is the information agent for the offer, and American Stock Transfer & Trust Co. LLC is the depository.