Retractable Technologies repurchases 3M shares at $1.60/share in private transaction with BML Investment Partners

RETRACTABLE TECHNOLOGIES INC

Agreed to repurchase 3M shares from BML Investment Partners at $1.60/share, an 8% discount to $1.74 close on Dec 22, 2022.
Aggregate purchase price of $4.8M; closing date Dec 29, 2022.
Declared preferred stock dividends: $39,050 for Series II and $19,061 for Series III, payable Jan 20, 2023 to holders of record Jan 10, 2023.
Dividends cover Q4 2022 period (Oct 1 – Dec 31) at $1.00 per share per annum.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RETRACTABLE TECHNOLOGIES INC entered into Stock Repurchase Agreement with BML Investment Partners, L.P. valued at $4.8 million (effective 2022-12-27).

Action: entry
Agreement: equity purchase
Counterparty: BML Investment Partners, L.P.
Value: $4.8 million
Effective: 2022-12-27

Exact text from the filing

On December 27, 2022, the Company entered into a stock repurchase agreement with BML Investment Partners, L.P. to repurchase 3 million shares of the Company’s common stock for $1.60 per share in a private transaction.

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RETRACTABLE TECHNOLOGIES INC filing history →

Source: SEC EDGAR

accession 0001104659-22-130917

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