Retractable Technologies, Inc. Reports Private Stock Repurchase
29 Dicembre 2022 - 9:09PM
Business Wire
Retractable Technologies, Inc. (NYSE American:
RVP) announces today that it has agreed to repurchase three million
shares of its common stock in a private transaction with BML
Investment Partners, L.P. Braden M. Leonard, on behalf of the
selling shareholder, approached the Company with an offer to sell a
block of shares prior to year-end. The Company accepted,
determining it would be advantageous to buy a large block of shares
in one transaction, especially given the stock’s low price. The
parties negotiated a price of $1.60 per share, being an 8% discount
from the $1.74 per share closing price as of December 22, 2022.
ABOUT RETRACTABLE
Retractable manufactures and markets VanishPoint® and Patient
Safe® safety medical products and the EasyPoint® needle. The
VanishPoint® syringe, blood collection, and IV catheter products
are designed to prevent needlestick injuries and product reuse by
retracting the needle directly from the patient, effectively
reducing exposure to the contaminated needle. Patient Safe®
syringes are uniquely designed to reduce the risk of bloodstream
infections resulting from catheter hub contamination. The
EasyPoint® is a retractable needle that can be used with luer lock
syringes, luer slip syringes, and prefilled syringes to give
injections. The EasyPoint® needle also can be used to aspirate
fluids and for blood collection. Retractable's products are
distributed by various specialty and general line distributors.
For more information on Retractable, visit its website at
www.retractable.com.
Forward-looking statements in this press release are made
pursuant to the safe harbor provision of the Private Securities
Litigation Reform Act of 1995 and reflect Retractable's current
views with respect to future events. Retractable believes that the
expectations reflected in such forward-looking statements are
accurate. However, Retractable cannot assure you that such
expectations will materialize. Actual future performance could
differ materially from such statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20221229005288/en/
Retractable Technologies, Inc. John W. Fort III, 888-806-2626 or
972-294-1010 Vice President, Chief Financial Officer, and Chief
Accounting Officer
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