Quarterly report pursuant to Section 13 or 15(d)

Subsequent Event

v3.8.0.1
Subsequent Event
9 Months Ended
Sep. 30, 2017
Subsequent Events [Abstract]  
Subsequent Event

Note 9 – Subsequent Event

 

On November 10, 2017, we announced our intention to commence a tender offer to purchase up to 1,700,000 shares of our Common Stock at a price per share of $2.30 per share.  We anticipate that the tender offer will be launched on or before November 20, 2017 and will remain open for at least 20 business days from initiation. If the maximum number of shares to be purchased in the tender offer were in fact tendered, the number of shares that would then be purchased in the tender offer represents approximately 13.7% of our currently issued and outstanding common shares.  If stockholders tender more than 1,700,000 shares, the maximum sought in the tender offer, ProPhase will purchase shares from all stockholders who properly tender shares, on a pro rata basis, based on the aggregate number of shares tendered. The NASDAQ Official Closing Price of our Common Stock on November 9, 2017 was $2.11 per share. As of November 10, 2017, we have approximately $27.7 million in cash and cash equivalents and marketable securities, a portion of which will be used to fund the tender offer.