AMREP repurchases 28.6% of outstanding shares at $10.45 each from Karabots estate

AMREP CORP.

Acquired 2,096,061 shares (28.6% of outstanding) in a privately negotiated transaction.
Purchase price $10.45/share, total $21.9M; shares retired to authorized but unissued.
Closing price on March 25 was $11.47 per share, a ~9% discount to market.
Transaction closed on March 28, 2022, reducing outstanding shares significantly.

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