- Theravance (THRX) commences a "modified Dutch auction" tender offer for up to $75M in common stock. The offer will expire at 5:00 pm ET on Tuesday, December 1 unless extended by the company.
- A "modified Dutch auction" tender offer allows shareholders to specify how many shares they want to buy and at what price (within a specified range). Based on the number of shares tendered and the respective prices, the company will determine the lowest price per share within the specified range that will enable it to raise $75M.