Aldila begins Dutch auction tender offer for up to 496,688 of its shares

By Lisa Kerner

Charlotte, N.C., Aug. 24 - Aldila Inc. began its Dutch auction tender offer on Friday for up to 496,688 shares, or 9%, of its common stock at a cost not to exceed $7.5 million.

The price per share will be from $15.10 to $16.85, and the offer expires at midnight ET on Sept. 21 unless extended. Aldila's stock (Nasdaq: ALDA) closed at $16.40 on Aug. 23.

While Aldila's board of directors approved the tender offer, it is not making any recommendations to stockholders regarding whether or not to tender their shares, the company said in a news release.

Aldila previously said it was terminating its existing stock buyback program established in 2006 under which it repurchased some 108,000 shares of its common stock in open market transactions.

MacKenzie Partners, Inc. (800 322-2885) is the information agent and American Stock Transfer & Trust Co. is the depositary for the tender offer.

Aldila of Poway, Calif., manufactures graphite golf shafts.

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