Transcat Inc. has repurchased $5.6 million worth of shares of the company’s stock.
The company repurchased 696,138 shares at $8.10 a share. It paid for the transaction with its existing credit facility. It bought the shares from a shareholder, not affiliated with the company, in a privately negotiated deal.
As of Aug. 6, prior to the repurchase, the company had 7.4 million shares outstanding of its common stock.
Transcat provides a variety of test products and services nationwide. Bioscience companies and medical device companies are among its target clientele.
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