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Stock Market & Financial Investment News

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December 16, 2013
09:13 EDTJMIJAVELIN Mortgage announces repurchase of shares held by Bulldog
JAVELIN Mortgage announced that it has agreed with Bulldog Investors and certain of its affiliates to repurchase 516,000 shares of JAVELIN common stock beneficially owned by Bulldog, at a purchase price of $12.76 per share. The purchase price equals a 5c discount to the volume-weighted average price of JAVELIN common stock traded on December 13. The purchase was made pursuant to JAVELIN's previously announced share repurchase program authorizing the Company to purchase up to 2 million shares of JAVELIN common stock. As a result of the shares already repurchased in the open market this quarter and the repurchase from Bulldog, JAVELIN will have spent $15.28M on share repurchases to-date, and will have repurchased approximately 9% of its shares outstanding. JAVELIN also announced today that pursuant to their agreements Bulldog has, among other things, withdrawn its slate of nominees for election to the company's board at the 2014 Annual Meeting and agreed to vote all of its shares in support of all of JAVELIN's director nominees.
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