Aldila to begin tender offer for its shares on Aug. 24

By Lisa Kerner

Charlotte, N.C., Aug. 20 - Aldila Inc. will begin a Dutch auction tender offer on Aug. 24 for up to 496,688 shares, or 9%, of its common stock at a cost not to exceed $7.5 million.

The price per share will be from $15.10 to $16.85, and the offer expires at midnight ET on Sept. 21 unless extended.

Aldila said the maximum offer price is about $1.25 per share over the closing price on Aug. 17 and an 8% premium to the stock's average price for the past six months.

As part of the tender offer, Aldila is terminating its existing stock buyback program established in 2006, a company news release stated. The company repurchased some 108,000 shares of its common stock in open market transactions under that program.

Aldila of Poway, Calif., manufactures graphite golf shafts.

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