Smartest Doc
Nabi Biopharmaceuticals Announces Final Results of Its Self-Tender Offer Full Text
Biota, 08/03/2012
Nabi Biopharmaceuticals (Nasdaq:NABI) announced the final results of its "modified Dutch auction" tender offer, which expired at 12:00 midnight, at the end of the day, New York City time, on Monday, July 30, 2012. In accordance with the terms and conditions of the tender offer, the Company has accepted for purchase an aggregate of 14,547,996 shares of its common stock at a purchase price of $1.68 per share, for an aggregate cost of approximately $24.4 million, excluding fees and expenses relating to the tender offer. Included within the shares accepted for purchase are 857,520 additional shares that the Company elected to purchase pursuant to the Company's right to purchase up to an additional 2% of the shares outstanding immediately prior to the commencement of the tender offer.