Citi Trends Board Adopts Limited Duration Stockholder Rights Plan In Response To One Of Its Stockholders Quickly Accumulating A Significant Number Of Shares In Open Market
Author: Benzinga Newsdesk | December 06, 2023 07:48am
The Board adopted the Rights Plan in response to one of its stockholders quickly accumulating a significant number of shares in the open market. Under the Rights Plan, the Rights generally would become exercisable only if any person (or group) acquires 16% (or 20% for certain passive investors) or more of Citi Trends' outstanding common stock. The Rights Plan expires on December 4, 2024.
Posted In: CTRN