Designer Brands Inc. Announces Final Results of Modified Dutch Auction Tender Offer
Portfolio Pulse from Benzinga Newsdesk
Designer Brands Inc. has completed a modified Dutch auction tender offer, purchasing 1,470,832 shares of its Class A Common Shares at $10.00 per share. This represents approximately 2.5% of the total number of shares outstanding. The aggregate cost of the purchase was $14,708,320, excluding fees and expenses related to the tender offer.
July 12, 2023 | 12:51 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Designer Brands Inc. has repurchased a significant number of its shares, which could potentially increase the value of remaining shares.
The company's repurchase of its own shares reduces the number of shares outstanding. This could potentially increase the earnings per share and the market price of the remaining shares, assuming the company's total earnings remain constant.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100