COEUR D'ALENE, Idaho, June 16 /PRNewswire-FirstCall/ -- NightHawk Radiology Holdings, Inc. (Nasdaq: NHWK - News), the leading provider of radiology solutions to radiology groups and hospitals throughout the United States, today announced the preliminary results of its modified Dutch auction tender offer, which expired at 5:00 p.m. Eastern Time on Friday, June 13, 2008.Based on the preliminary analysis by the depositary, an aggregate of 2,367,438 shares were properly tendered and not withdrawn at a price of $8.05, including approximately 1,001,457 shares that were tendered through notice of guaranteed delivery. Accordingly, NightHawk expects to accept for payment an aggregate of 2,367,438 shares of its common stock at a purchase price of $8.05 per share. These shares represent approximately 7.7% of NightHawk's issued and outstanding shares as of June 13, 2008.
"With this tender offer, we gave our stockholders an opportunity to achieve liquidity on their investment, and at the same time, allowed non- tendering stockholders to increase their pro rata ownership," said Dr. Paul Berger, Chairman and Chief Executive Officer. Berger added, "Going forward our Board of Directors will continue to evaluate the opportunity for additional share repurchases."
This self-tender offer was made pursuant to an Offer to Purchase and Letter of Transmittal, each dated May 14, 2008, filed with the Securities and Exchange Commission on May 14, 2008, as amended on May 16, 2008.
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