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PCHM - PharmChem plans to buy back up to $5M common stock
PharmChem Inc
PharmChem (OTCPK:PCHM) said its board approved to buy back up to $5M worth of common stock at a price between $3.25 and $3.75 per share through a modified Dutch auction tender offer. The company said it will determine the lowest price per share within the range that will enable it to buy $5M in stock or a lesser amount depending on the number of shares tendered. The tender offer will expire on May 31, unless extended.