Franklin Covey begins Dutch auction tender offer

By Lisa Kerner

Charlotte, N.C., July 29 - Franklin Covey Co. began its previously announced modified Dutch auction tender offer for up to $28.0 million in value of shares of its common stock at a price within the range of $9.00 to $10.50 per share.

According to the company, the offer may allow up to 3,111,111 shares, or approximately 16%, of Franklin Covey's outstanding common stock to be acquired.

The offer will end at 5 p.m. ET on Aug. 27, unless extended.

Franklin Covey said it intends to finance the tender offer primarily from the proceeds of the sale of its consumer solutions business unit, which closed July 7.

Dealer manager for the offer is ThinkPanmure, LLC, and the depositary is Zions Bank.

Georgeson Inc. (800 491-3365) is the information agent.

Franklin Covey is a consulting and training company based in Salt Lake City.

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