Air Transport Services Group (ATSG) Enters $50M Stock Repurchase Agreement
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ATSG to Repurchase $50 Million of its Common Shares
June 22, 2016 8:30 AM EDTWILMINGTON, Ohio--(BUSINESS WIRE)-- Air Transport Services Group, Inc. (NASDAQ: ATSG) announced today that it has agreed to repurchase $50 million of its common shares at $13.07 per share, representing approximately 3.8 million shares, from its largest shareholder, a fund affiliated with Red Mountain Capital Partners LLC. The shares purchased represent approximately 6 percent of ATSGs outstanding shares.
The transaction was approved by the Board of Directors of ATSG after market close on June 20, with the pricing set based upon a discount to share activity through market close on that date.
The $13.07 transaction... More
