PROVIDENCE – Twin River Worldwide Holdings Inc. finished its Dutch auction tender offer, purchasing roughly 2.5 million shares at a price of $29.50 per share, the company announced Wednesday.
The result is the company repurchasing $75 million of its own stock. The price was the lowest price that the company solicited when the offer was announced in June. The highest the purchasing price could have been was $33 per share, with stock sale offers being considered between $29.50 and $33 in 25 cent increments.
The repurchase was funded with cash on hand, while the shares bought represent approximately 6.2% of shares outstanding, the company said.
