Mannatech, Incorporated announces an Equity Buyback for $5 million worth of its shares.
May 29, 2020 at 09:23 am EDT
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Mannatech, Incorporated (NasdaqGS:MTEX) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its common stock. The shares will be repurchased at a price not greater than $17.00 nor less than $15.00 per share. The offer will be funded from available cash. The company intends to hold the shares repurchased in treasury. The offer provides shareholders with an opportunity to obtain liquidity with respect to all or a portion of their shares without the potential disruption to the share price. If more than $5 million in value of shares are properly tendered and not properly withdrawn, we will purchase all shares tendered at or below the final purchase price on a pro rata basis. The offer will expire on June 25, 2020. As of April 30, 2020, we had 2,389,206 issued and outstanding shares.
Mannatech, Incorporated is a global wellness solution provider. The Company develops and sells nutritional supplements, skin care and anti-aging products, and weight-management products that target optimal health and wellness. The Company's product category includes Integrative Health, Targeted Health, Weight and Fitness, Skin Care, Essentials, and Home Living. Integrative Health includes Ambrotose Complex, Ambrotose AO, Advanced Ambrotose, Ambrotose Life, Catalyst, Cognitate, Manapol Powder, MannaBears, and others. Targeted Health includes BounceBack, CardioBALANCE, GI-ProBalance Slimstick, GI-Zyme, GI-Defense, Blood Sugar ProBalance, ImmunoSTART, and others. Weight and Fitness includes OsoLean, SPORT, TruHealth Fat Loss System and others. Skin Care includes Emprizone, FIRM with Ambrotose, FreshDen, and others. Essentials include Catalyst Multivitamin, Liver Support, Joint Support SUPERFOOD, Sleep Support gummies and Stress Support gummies. Home Living includes Organt and PURO.