Benzinga | Aug 9, 2021 04:21PM EDT

Covenant Logistics Begins Modified Dutch Auction Tender Offer For Up To $40M Class A Shares

* Covenant Logistics Group Inc (NASDAQ:CVLG) commenced a modified Dutch Auction tender offer to purchase up to $40 million of its Class A common stock at a price not less than $21.00 nor greater than $23.00 per share in cash.

* Covenant's closing price of Class A common stock on August 6, 2021, the last full trading day before the start of the tender offer, was $20.27 per share.

* The tender offer will expire on September 3, 2021, unless extended.

* Price Action: CVLG shares closed higher by 6.76% at $21.64 on Monday.