Ameritrans Capital Corporation Announces Preferred Stock Repurchase Program
18 May 2010 - 12:51AM
Business Wire
On May 12, 2010, the Board of Directors of Ameritrans Capital
Corporation (NASDAQ: AMTC)(NASDAQ: AMTCP) approved a repurchase
program (the "Repurchase Program") for its 9 3/8% Cumulative
Participating Redeemable Preferred Stock (“Preferred Stock”). Under
the Repurchase Program, Ameritrans may from time to time purchase
up to 150,000 shares of Preferred Stock in open market purchases in
accordance with Rules 10b5-1 and 10b-18 under the Securities
Exchange Act of 1934, as amended. The timing and amount of
purchases made under the Repurchase Program will depend upon
prevailing stock prices, general economic and market conditions,
and other factors. Any Preferred Stock acquired under the
Repurchase Program will be retired.
About Ameritrans
Ameritrans Capital Corporation is an internally managed,
closed-end investment company that has elected to be regulated as a
business development company (BDC) under the Investment Company Act
of 1940, as amended. Ameritrans originates, structures and manages
a portfolio of secured business loans and selected equity
securities. Ameritrans' wholly owned subsidiary Elk Associates
Funding Corporation was licensed by the United States Small
Business Administration as a Small Business Investment Company
(SBIC) in 1980.
This announcement contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those
presently anticipated or projected. Ameritrans Capital Corporation
cautions investors not to place undue reliance on forward-looking
statements, which speak only as to management's expectations on
this date.
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