FLOWER MOUND, Texas--(BUSINESS WIRE)--May 17, 2018--
Mannatech,
Incorporated ("Mannatech" or the "Company") (NASDAQ:
MTEX),
a global health and wellness company committed to transforming lives to
make a better world, intends to conduct a modified Dutch auction cash
tender offer to purchase up to $16 million of its outstanding common
stock, par value $0.0001 per share.
“This tender offer reflects Mannatech’s confidence in the future outlook
of our business and the Company's long-term value and represents another
important step in implementing our previously announced strategic plan,
which contemplated reducing overall share count and using capital for
the benefit of shareholders,” said Alfredo “Al” Bala, CEO and President
of Mannatech. “The Company has had a share purchase program in place,
and with this tender offer, we will take an even more significant step
forward in demonstrating our confidence in the future of our business.”
The Company anticipates that Georgeson Securities Corporation will be
the dealer manager for the tender offer, Georgeson LLC will serve as the
information agent for the tender offer, and Computershare Trust Company,
N.A. will serve as the depositary for the tender offer.
Important Additional Information
This communication is for informational purposes only, is not a
recommendation to buy or sell the Company’s common stock, and does not
constitute an offer to buy or the solicitation to sell shares of the
Company’s common stock. The tender offer described in this communication
has not yet commenced, and there can be no assurances that the Company
will commence the tender offer on the terms described in this
communication or at all. The tender offer will be made only pursuant to
the tender offer statement on Schedule TO, including an Offer to
Purchase, Letter of Transmittal and related materials that the Company
expects to file with the Securities and Exchange Commission (“SEC”) upon
commencement of the tender offer.
SHAREHOLDERS AND HOLDERS OF AWARDS GRANTED UNDER THE COMPANY'S EQUITY
INCENTIVE PLANS ARE URGED TO CAREFULLY READ THE TENDER OFFER STATEMENT,
THE OFFER TO PURCHASE, LETTER OF TRANSMITTAL AND RELATED MATERIALS WHEN
THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION,
INCLUDING THE VARIOUS TERMS OF, AND CONDITIONS TO, THE TENDER OFFER,
THAT SHAREHOLDERS AND AWARD HOLDERS SHOULD CONSIDER BEFORE MAKING ANY
DECISION REGARDING TENDERING THEIR SHARES.
Once the tender offer is commenced, shareholders will be able to
obtain a free copy of the tender offer statement on Schedule TO, the
Offer to Purchase, Letter of Transmittal and other related documents
that the Company will be filing with the SEC at the SEC’s website at www.sec.gov.
Additional copies of these materials may be obtained for free by
contacting the Company at ir@mannatech.com
or 1410 Lakeside Pkwy, Ste 200, Flower Mound, TX 75028, Attn: Investor
Relations, or Georgeson LLC, the information agent for the tender offer,
at (866) 857-2624.
Other Disclosures
None of the Company, its directors, the dealer manager, the information
agent or the depositary for the tender offer will make any
recommendation to the shareholders as to whether to tender their shares
or refrain from tendering their shares or as to the price at which to
tender them.
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 inability to attract and retain associates and
members, 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/20180517006390/en/
Source: Mannatech, Incorporated
Mannatech, Incorporated
Diane Barton, 972-471-8116
pr@mannatech.com
or
Donna
Giordano, 972-471-6512
Manager, Executive Office Administration
ir@mannatech.com
www.mannatech.com