Retractable Technologies to repurchase 3M shares in private transaction

Retractable Technologies announces that it has agreed to repurchase three million shares of its common stock in a private transaction with BML Investment Partners, L.P. "Braden Leonard, on behalf of the selling shareholder, approached the company with an offer to sell a block of shares prior to year-end. The company accepted, determining it would be advantageous to buy a large block of shares in one transaction, especially given the stock’s low price. The parties negotiated a price of $1.60 per share, being an 8% discount from the $1.74 per share closing price as of December 22," the company stated.