fbpx

Mannatech Announces Preliminary Results of Tender Offer

Mannatech,
Incorporated (“Mannatech” or the “Company”) (NASDAQ:
MTEX), a global health and wellness company committed to
transforming lives to make a better world, announced today the
preliminary results of its modified Dutch auction tender offer, which
expired at 12:00 midnight, New York City time, at the end of Friday,
June 15, 2018, to purchase up to an aggregate of $16 million in value of
its outstanding common stock, par value $0.0001 per share, at a per
share price not greater than $21.00 nor less than $18.50 per share (the
“tender offer”).

Based on the preliminary count by Computershare Trust Company, N.A., the
Depositary for the tender offer (the “Depositary”), a total of 316,608
common shares of the Company were properly tendered and not properly
withdrawn at or below the price of $21.00 per share.

In accordance with the terms and conditions of the tender offer and
based on a preliminary count by the Depositary, the Company expects to
accept for payment a total of approximately 316,608 common shares of the
Company at a cash purchase price of $21.00 per share, for a total cash
cost of approximately $6.6 million, excluding fees and expenses relating
to the tender offer. These common shares represent approximately 11.6%
of the Company’s total outstanding shares as of April 30, 2018.

The Company anticipates to fund the share purchase in the tender offer
from cash on hand.

The number of shares expected to be purchased in the tender offer, the
cash purchase price per share, and the aggregate cash purchase price are
preliminary and subject to change and are based on the assumption that
all shares tendered through notice of guaranteed delivery will be
delivered within the two trading day settlement period. The final number
of shares to be purchased in the tender offer, the final cash purchase
price per share, and the final aggregate cash purchase price will be
announced following the expiration of the guaranteed deliver period and
the completion of the confirmation process by the Depositary. Payment
for the shares accepted for purchase pursuant to the tender offer will
occur promptly thereafter.

The Company’s tender offer was made pursuant to an Offer to Purchase and
Letter of Transmittal, each dated May 18, 2018.

About Mannatech

Mannatech, Incorporated is committed to transforming lives through the
development of high quality integrated health, weight management,
fitness and skin care products distributed through its global network of
independent associates and members. The company has been operating for
more than 20 years with operations in 26 markets^. For more information,
visit Mannatech.com.

^ Mannatech operates in China under a cross-border e-commerce platform
that is separate from its network marketing model.

Please Note: This release contains “forward-looking statements.”
These forward-looking statements generally can be identified by use of
phrases or terminology such as “may,” “will,” “should,” “hope,” “could,”
“would,” “expects,” “plans,” “intends,” “anticipates,” “believes,”
“estimates,” “approximates,” “predicts,” “projects,” “potential,” and
“continues” or other similar words or the negative of such terminology.
Similarly, descriptions of Mannatech’s objectives, strategies, plans,
goals or targets contained herein are also considered forward-looking
statements. Mannatech believes this release should be read in
conjunction with all of its filings with the United States Securities
and Exchange Commission and cautions its readers that these
forward-looking statements are subject to certain events, risks,
uncertainties, and other factors. Some of these factors include, among
others, Mannatech’s ability to complete the tender offer in a timely
manner or at all, the price at which shares of Mannatech’s common stock
may trade on Nasdaq, which may be higher or lower than the purchase
price in the tender offer, uncertainty as to the number of shares
purchased in the tender offer, Mannatech’s inability to attract and
retain associates and preferred customers, increases in competition,
litigation, regulatory changes, and its planned growth into new
international markets. Although Mannatech believes that the
expectations, statements, and assumptions reflected in these
forward-looking statements are reasonable, it cautions readers to always
consider all of the risk factors and any other cautionary statements
carefully in evaluating each forward-looking statement in this release,
as well as those set forth in its latest Annual Report on Form 10-K and
Quarterly Report on Form 10-Q, and other filings filed with the United
States Securities and Exchange Commission, including its current reports
on Form 8-K. All of the forward-looking statements contained herein
speak only as of the date of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20180618005619/en/