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SunLink Health to buy back up to $2.5M of shares in tender offer

SunLink Health Systems Inc. offered to repurchase up to $2.5 million of common shares at $1.60 apiece in its tender offer, expired at midnight ET on Dec. 21.

The company expects to accept for payment a total of about 1,745,751 shares for a total cost of roughly $2.8 million, excluding fees and expenses relating to the offer. These shares represent about 19.05% of the company's total outstanding common shares as of Dec. 21.

Shares expected to be purchased include about 1,562,500 shares SunLink initially offered to purchase and about 183,251 additional shares that SunLink elected to repurchase under its right to buy up to an additional 2% of its outstanding common shares.

After the completion of the tender offer, the company expects to have about 7,416,814 shares issued and outstanding and held by about 340 shareholders of record.

D. F. King & Co. Inc. is the information agent for the offer and American Stock Transfer & Trust Co. LLC is the depositary.