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RVP - Retractable Technologies to repurchase 3M shares at $1.60 per share
Retractable Technologies Inc.
Retractable Technologies ( NYSE: RVP ) is set to repurchase 3M shares in a private transaction with shareholder BML Investment Partners at $1.60 per share.
Braden Leonard, director at BML, is said to have approached the company with an offer to sell a block of shares prior to year end.
The company negotiated a price of $1.60 per share, an 8% discount from the $1.74 per share closing price as of Dec. 22.