Colonial Commercial plans odd-lot tender offer for convertible preferreds

By Jennifer Chiou

New York, Aug. 7 - Colonial Commercial Corp. announced that it plans to make a tender offer at $1.25 per share for all shares of its convertible preferred stock that are owned in odd lots of fewer than 100 preferrred shares.

The company said it estimates that 14,000 convertible preferred shares are owned in odd lots.

The offer is slated to begin on Sept. 1.

Hawthorne, N.J.-based Colonial distributes heating, ventilating and air conditioning equipment parts and accessories.

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