Financings in Brief: Allegiance
This article was originally published in The Gray Sheet
Executive Summary
Allegiance: Repurchase of up to 3 mil. shares of common stock will take place over the next two years and represent approximately 5% of the firm's 58 mil. outstanding shares. The shares, which will be acquired "on the open market or through privately negotiated transactions," will "be added to Allegiance's treasury shares and used in the administration of the company's employee-stock-purchase plan and other benefit programs," the firm states...