Avantax, Inc. Commences a Modified Dutch Auction Tender Offer to Repurchase up to $250 Million of its Common Stock

DALLAS, Jan. 27, 2023 (GLOBE NEWSWIRE) -- Avantax, Inc. (NASDAQ: AVTA) (formerly known as Blucora, Inc., the “Company”) announced today that it has commenced a modified “Dutch auction” tender offer (the “Tender Offer”) to purchase for cash up to $250 million of its common stock, par value $0.0001 per share (“Common Stock”), at a price per share not less than $27.00 and not greater than $31.00, less any applicable withholding taxes and without interest, using proceeds from the Company’s recent sale of its tax software business, which closed on December 19, 2022, and borrowings under the Company’s credit facility. The Tender Offer will expire at 12:00 midnight, New York City time, at the end of the day on February 24, 2023, unless extended or terminated.

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