Washington Federal, Inc. Commences a Modified Dutch Auction Tender Offer to Repurchase up to $290 Million of its Common Stock

Feb 09, 2021

Washington Federal, Inc. (NASDAQ: WAFD) (“Washington Federal” or the “Company”) announced today that it has commenced a modified “Dutch auction” tender offer (the “Tender Offer”) to purchase for cash up to $290 million of its common stock (the “Common Stock”) at a price per share not less than $26.50 and not greater than $31.00, less any applicable withholding taxes and without interest, using proceeds from the Company’s recent depositary shares offering, which closed on February 8, 2021. The maximum purchase price of $31.00 represents an 11.75% premium over the 5-trading day Volume Weighted Average Price (VWAP). On February 8, 2021, the closing price of the Common Stock was $28.93 per share. The Tender Offer will expire at 12:00 midnight, New York City time, at the end of the day on March 9, 2021, unless extended or terminated.

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