STR announces commencement of tender offer to purchase up to $30M of its stock STR Holdings announced that it is commencing a "modified Dutch auction" self-tender offer to repurchase for cash up to $30M of shares of its common stock at a price per share no greater than $1.54 nor less than $1.00, that will enable the company to purchase the maximum number of shares of common stock having an aggregate purchase price not exceeding $30M. The NYSE closing price of the company's common stock on January 30, was $1.47 per share. The tender offer will expire on Friday, February 28, unless extended or withdrawn by the company. The company will use a portion of its available cash and cash equivalents to fund the repurchase of shares in the tender offer.
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