Online direct marketing network Aptimus Inc. said that its board of directors has authorized a cash tender offer to buy up to 10.75 million shares of the company's common stock for 48 cents per share.
Aptimus has about 12.64 million shares outstanding.
The offer is expected to begin early this month.
Seattle-based Aptimus said it will fund the offer with its existing cash balances and short-term investments.
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