Precise optical sighting system manufacturing company Optex Systems Holdings Inc (OTCMKTS:OPXS) was in the news back on Friday and it may be a good time for investors to start taking an interest in the stock this week.
Trading Data
On Friday, OPXS stock ended flat at $2.5100 with 970K share, compared to its average volume 12.07K shares. The stock moved within a range of $2.5100 – 2.5351 after opening trade at $2.5200.
Optex Systems Holdings, Inc. Announces Preliminary Results of Tender Offer
The company which works with both militaries and commercial entities, made an announcement on Friday with regards to the initial results of the ‘modified Dutch action’ tender offer for purchasing its commons shares of valuation of $4.25 million. The par value for those shares was $0.001 but that pricing actually expired at 5 in the evening New York City time on September 15, 2022.
It was further noted that as per the count conducted by the Continental Stock Transfer & Trust Company, 1728026 shares of the company’s common stock were tendered properly. However, those shares were not withdrawn properly at or less than the purchase price of $2.65 a share. As per the provisions of the offer, the company is aiming to accept the purchase of around 1603724 shares of its common stock for the price of $2.65 a share. The total cost of the same is going to be $4.25 million. It remains to be seen if the Optex stock comes into focus today.
Technical Data
OPXS stock is trading above the 20-Day and 200-Day Moving averages of $2.22 and $2.02 respectively. However, the stock is trading below the 50-Day moving average of $2.57.
