Colonial Commercial begins odd-lot tender offer for convertible preferreds

By Angela McDaniels

Tacoma, Wash., Sept. 2 - Colonial Commercial Corp. began an odd-lot tender offer on Tuesday to purchase shares of its convertible preferred stock for $1.25 each.

The offer will expire on Oct. 31 and is being made to holders who owned 99 or fewer preferreds as of Aug. 20, according to a company news release.

The company announced plans for the tender offer on Aug. 7. At the time, it estimated that 14,000 of the preferreds were owned in odd lots.

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

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