Atrion Corporation Announces Preliminary Results of Dutch Auction Tender Offer.ALLEN, Texas--(BUSINESS WIRE)--April 26, 1999-- Atrion Corporation (Nasdaq/NMS:ATRI) announced today the preliminary results of its "Dutch auction Dutch Auction An auction where the price on an item is lowered until it gets its first bid, and then the item is sold at that price. Notes: The U.S. Treasury (and other countries) uses a Dutch auction when it sells securities. " tender offer that expired ex·pire v. ex·pired, ex·pir·ing, ex·pires v.intr. 1. To come to an end; terminate: My membership in the club has expired. 2. at 5:00 p.m., New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time on Friday, April 23, 1999. On March 22, 1999, Atrion commenced its tender offer to purchase up to 400,000 shares of its Common Stock, or approximately 14.2% of its then outstanding shares, at a price not greater than $10.00 nor less than $8.00 per share. Based on a preliminary count by the depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. for the offer, 301,549 shares of the Company's Common Stock were properly tendered at or below $10.00 per share. Atrion expects to purchase all shares of its Common Stock properly tendered, subject to final confirmation, at a price of $10.00 per share. "We are pleased to have been able to provide liquidity through the tender offer for those stockholders wishing to sell. At the same time, we believe these repurchases enhance shareholder value for our remaining stockholders," stated Emile A. Battat, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Atrion. The determination of the actual number of shares to be purchased and the purchase price are subject to final confirmation and the proper delivery of all shares tendered and not withdrawn, including shares tendered pursuant to the guaranteed delivery procedure. Atrion expects payment for shares accepted for purchase to occur as soon as is practicable practicable adj. when something can be done or performed. . Atrion Corporation designs, develops, manufactures, sells and distributes medical products and components to markets worldwide. |
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