ASTC - Astrotech adopts stockholder rights plan

• Astrotech ( NASDAQ: ASTC ) on Wednesday said its board of directors adopted a limited-duration stockholder rights plan, effective immediately.
• The company's board adopted rights plan in response to recent significant accumulations of portions of Astrotech outstanding common stock.
• While the plan is effective immediately, the rights will be exercisable only if a person or group acquires beneficial ownership of 15% or more of the company common stock.
• The rights plan has a 364-day term, expiring on December 20, 2023 and the rights will be distributed to company stockholders of record as of the close of business on January 5, 2023.

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