Alpha And Omega Begins $30 Mln Modified Dutch Auction Tender Offer For Shares

(RTTNews) - Alpha and Omega Semiconductor Ltd. (AOSL) Monday announced that it is commencing a modified "Dutch auction" tender offer to purchase for cash its outstanding common shares for an aggregate purchase price of no more than $30 million.

The tender offer is part of the company's existing $50 million repurchase program that was previously approved by the Board of Directors in April. It will expire on July 7.

Following the offer, the shareholders may tender all or a portion of their shares at a price specified by the tendering shareholder of not less than $8.50 and not greater than $9.20 per share or without specifying a purchase price, in which case the shares will be purchased at the purchase price determined in accordance with the tender offer.

When the tender offer expires, the company will determine the lowest price within the range of prices specified above that will enable it to purchase the number of shares of its outstanding common shares having an aggregate purchase price not exceeding $30 million.

The company reserves the right to purchase up to an additional 2 percent of its outstanding common shares without extending the tender offer.