Covenant logistics group, inc. to commence modified dutch auction tender offer to purchase up to $40.0 million of its class a shares

Chattanooga, tenn., aug. 09, 2021 (globe newswire) -- covenant logistics group, inc. (nasdaq/gs: cvlg) (“covenant” or the “company”) announced today that it commenced a modified dutch auction tender offer to purchase up to $40.0 million of its class a common stock, or such lesser number of shares of its class a common stock as are properly tendered and not properly withdrawn, at a price not less than $21.00 nor greater than $23.00 per share of class a common stock, to the seller in cash, less any applicable withholding taxes and without interest. the offer is made upon the terms and subject to the conditions described in the offer to purchase and in the related letter of transmittal. the closing price of covenant's class a common stock on the nasdaq on august 6, 2021, the last full trading day before the commencement of the tender offer, was $20.27 per share. the tender offer is scheduled to expire at one minute after 11:59 p.m., new york city time, on september 3, 2021, unless the offer is extended.
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