Vera Bradley (VRA) said late Friday it has secured approval from its board to adopt a limited duration rights plan through Oct. 11, 2025, to protect shareholders' interests and maximize investor value.
Under the plan, one right will be distributed for each outstanding common share.
The rights are exercisable if a person, entity or group acquires beneficial ownership of at least 15% of outstanding common shares in a transaction not approved by the board, or if an existing shareholder that already beneficially owns at least 15% of the outstanding common shares acquires additional shares, the company said.
Shares of Vera Bradley were up 5.4% in recent after-hours activity.
Price: 5.46, Change: +0.28, Percent Change: +5.36
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.