On Tuesday, Shares of Copart, Inc. (NASDAQ:CPRT), gained 1.17% to $38.82.
Copart, declared the final results of its modified “Dutch Auction” tender offer, which expired at 5:00 p.m., New York City time, on Wednesday, December 23, 2015.
Based on the final count by the depositary for the tender offer, an aggregate of 11,781,596 shares were properly tendered and not withdrawn at or below a price of $39.00. Copart attained 8,333,333 shares of its common stock at a purchase price of $39.00 per share for a total cost of about $325.0 million, not taking into account fees and expenses related to the tender offer. The 8,333,333 shares represent about 6.9% of the shares issued and outstanding. The shares accepted for purchase comprise the 7,317,073 shares Copart initially offered to purchase and 1,016,260 additional shares of Copart’s outstanding common stock that Copart has elected to purchase following its right to purchase up to an additional 2% of its outstanding shares.
Because more than 7,317,073 shares of common stock were validly tendered and not validly withdrawn, the offer was oversubscribed. As a result, the depositary has informed Copart that, after giving effect to the priority for “odd lots,” the final proration factor is about 70.5% of the shares properly tendered and not withdrawn at or below $39.00 per share.
Copart, Inc. provides online auctions and vehicle remarketing services. The company offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology to vehicle sellers, primarily insurance companies, in addition to to banks and financial institutions, charities, car dealerships, fleet operators, and vehicle rental companies. Its services comprise online seller access, salvage estimation, estimating, end-of-life vehicle processing, virtual insured exchange, transportation, vehicle inspection stations, on-demand reporting, motor vehicle regulatory agency processing, flexible vehicle processing programs, buy it now, member network, sales process, dealer, and direct services, in addition to U-Pull-It service that allows buyer to remove valuable parts, and sell the remaining parts and car body. T
Shares of Holly Frontier Corp (NYSE:HFC), declined -0.12% to $40.56, during its last trading session.
Holly Frontier Corporation, declared that planned fourth quarter maintenance on the El Dorado and Cheyenne Distillate Hydrotreating units and the Tulsa West Crude and Lubricants units was complete. During the quarter, the Tulsa refinery also practiced an unplanned shutdown of its Fluid Catalytic Cracking Unit (FCCU). Repairs have been accomplished and the FCCU has successfully restarted. Extreme weather conditions in New Mexico have also influenced crude rate at the Navajo Refinery due to crude availability constraints. As a result of the weather and both planned and unplanned maintenance, HollyFrontier Corporation anticipates crude oil throughput for the fourth quarter 2015 to average between 395,000 and 405,000 barrels per day.
Holly Frontier Corporation operates as an independent petroleum refiner in the United States. The company operates in two segments, Refining and HEP. It produces high-value refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, liquid petroleum gas, fuel oil, and specialty and modified asphalt.
Finally, National American University Holdngs Inc (NASDAQ:NAUH), ended its last trade with 4.95% gain, and closed at $2.12.
National American University Holdings, declared that it intends to release financial results for its fiscal 2016 second quarter and six months ended November 30, 2015, after the closing of the stock market on Wednesday, January 6, 2016. The Company will then discuss those results in a conference call on Thursday, January 7, 2016, at 11:00 a.m. ET.
National American University Holdings, Inc. owns and operates National American University (NAU) that provides postsecondary education services primarily for working adults and other non-traditional students in the United States.
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