Shares of Hilltop Holdings Inc. (HTH), which have been trading in the range of $11.05 – $26.28 for the past one year, are currently trading at $20.66, up $2.47 or 13.55% on Wednesday morning. Trading volume was 370K versus an average volume of 403K shares.
Hilltop, on Wednesday, announced that it has commenced a modified “Dutch auction” tender offer to purchase for cash up to $350.0 million of its common stock at a price per share not less than $18.25 and not greater than $21.00, less any applicable withholding taxes and without interest, using available cash on hand. On September 22, 2020, the closing price of the Common Stock was $18.19 per share. The Tender Offer will expire at the end of the day on October 30, 2020, unless extended or terminated.
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