WEBCO INDUSTRIES, INC. ANNOUNCES SHARE REPURCHASE
Webco Industries (OTC: WEBC) has announced a significant share repurchase of 143,443 shares, representing 16.8% of its outstanding shares, in a private transaction valued at $28.7 million. The company funded the purchase through a combination of cash reserves and borrowing from its revolving credit line.
Following this transaction, Webco's outstanding shares have been reduced to 712,300, with approximately 78.5% owned by the combined families of F. William Weber and management. The company operates five tube production facilities in Oklahoma and Pennsylvania, along with eight value-added facilities across Oklahoma, Illinois, Michigan, Pennsylvania, and Texas, specializing in carbon steel, stainless steel, and specialty metal tubing products.
Webco Industries (OTC: WEBC) ha annunciato un significativo riacquisto di 143.443 azioni, che rappresentano il 16,8% delle sue azioni in circolazione, in una transazione privata dal valore di 28,7 milioni di dollari. L'azienda ha finanziato l'acquisto tramite una combinazione di riserve di liquidità e prestiti dalla sua linea di credito rotativa.
Dopo questa transazione, le azioni in circolazione di Webco sono state ridotte a 712.300, con circa il 78,5% posseduto dalle famiglie combinate di F. William Weber e dalla direzione. L'azienda gestisce cinque impianti di produzione di tubi in Oklahoma e Pennsylvania, insieme a otto impianti a valore aggiunto in Oklahoma, Illinois, Michigan, Pennsylvania e Texas, specializzandosi nella produzione di tubi in acciaio al carbonio, acciaio inossidabile e metalli speciali.
Webco Industries (OTC: WEBC) ha anunciado una importante recompra de acciones de 143.443, que representa el 16,8% de sus acciones en circulación, en una transacción privada valorada en 28,7 millones de dólares. La empresa financió la compra a través de una combinación de reservas de efectivo y préstamos de su línea de crédito revolving.
Tras esta transacción, las acciones en circulación de Webco se han reducido a 712.300, con aproximadamente el 78,5% en manos de las familias combinadas de F. William Weber y la dirección. La compañía opera cinco instalaciones de producción de tubos en Oklahoma y Pennsylvania, junto con ocho instalaciones de valor agregado en Oklahoma, Illinois, Michigan, Pennsylvania y Texas, especializándose en productos de tubos de acero al carbono, acero inoxidable y metales especiales.
웹코 인더스트리 (OTC: WEBC)는 143,443주의 주식을 재매입한다고 발표했습니다. 이는 16.8%에 해당하는 수치로, 거래 가치는 2,870만 달러입니다. 이 회사는 현금 유보금과 회전 신용 대출을 결합하여 구매 자금을 조달했습니다.
이번 거래 후, 웹코의 총 발행 주식 수는 712,300주로 줄어들었으며, 약 78.5%가 F. William Weber의 가족과 경영진에 의해 보유되고 있습니다. 이 회사는 오클라호마와 펜실베니아에 다섯 개의 튜브 생산 시설을 운영하고 있으며, 오클라호마, 일리노이, 미시간, 펜실베니아, 텍사스 전역에 걸쳐 여덟 개의 부가가치 시설을 운영하고 있습니다. 회사는 탄소강, 스테인리스강 및 특수 금속 튜빙 제품을 전문으로 하고 있습니다.
Webco Industries (OTC: WEBC) a annoncé un rachat significatif de 143.443 actions, représentant 16,8% de ses actions en circulation, dans le cadre d'une transaction privée d'une valeur de 28,7 millions de dollars. L'entreprise a financé cet achat grâce à une combinaison de réserves de liquidités et d'emprunts sur sa ligne de crédit renouvelable.
Suite à cette transaction, le nombre d'actions en circulation de Webco a été réduit à 712.300, avec environ 78,5% détenu par les familles combinées de F. William Weber et la direction. L'entreprise exploite cinq usines de production de tubes en Oklahoma et en Pennsylvanie, ainsi que huit installations à valeur ajoutée en Oklahoma, Illinois, Michigan, Pennsylvanie et Texas, spécialisées dans les produits en tubes en acier au carbone, en acier inoxydable et en métal spécial.
Webco Industries (OTC: WEBC) hat einen erheblichen Aktienrückkauf von 143.443 Aktien angekündigt, was 16,8% der ausstehenden Aktien entspricht, in einer privaten Transaktion im Wert von 28,7 Millionen Dollar. Das Unternehmen hat den Kauf durch eine Kombination aus Barmitteln und Darlehen aus seiner revolvierenden Kreditlinie finanziert.
Nach dieser Transaktion wurden die ausstehenden Aktien von Webco auf 712.300 reduziert, wobei etwa 78,5% in den Händen der zusammengeführten Familien von F. William Weber und dem Management liegen. Das Unternehmen betreibt fünf Röhrenproduktionsanlagen in Oklahoma und Pennsylvania sowie acht wertschöpfende Anlagen in Oklahoma, Illinois, Michigan, Pennsylvania und Texas, die sich auf Produkte aus Kohlenstoffstahl, Edelstahl und Spezialmetallrohren spezialisiert haben.
- Significant share repurchase of 16.8% of outstanding shares indicates confidence in company value
- Reduction in share count could lead to increased earnings per share
- High insider ownership of 78.5% suggests strong management alignment with shareholder interests
- Increased debt burden from using credit line for share repurchase
- Reduced public float may decrease stock liquidity
- Significant cash outlay of $28.7M could impact working capital
Dana S. Weber, Webco Chairman and Chief Executive Officer said, "We were recently approached by a shareholder regarding our interest in purchasing its holdings. Following approval by our Board of Directors, we moved forward with the purchase. After the transaction, we have 712,300 shares outstanding, of which an estimated 78.5 percent is owned by the combined families of F. William. Weber and management. We are pleased that we have historically been able to provide liquidity for our shareholders."
Webco's mission is to continuously build on our strengths as we create a vibrant company for the ages. We leverage our core values of trust and teamwork, continuously building strength, agility and innovation. We focus on practices that support our brand such that we are
CONTACT: | Mike Howard |
Chief Financial Officer | |
(918) 241-1094 | |
View original content:https://www.prnewswire.com/news-releases/webco-industries-inc-announces-share-repurchase-302341563.html
SOURCE Webco Industries, Inc.
FAQ
How many shares did Webco Industries (WEBC) repurchase in January 2024?
What was the total value of WEBC's January 2024 share repurchase?
How many shares remain outstanding for WEBC after the January 2024 repurchase?
What percentage of WEBC is owned by management and the Weber family after the 2024 repurchase?
How did WEBC finance the January 2024 share repurchase?
