Online Vacation Center sets share repurchase at $1.75 each

FORT LAUDERDALE, Fla. - Online Vacation Center Holdings Corp. (OTCQX: ONVC), a prominent cruise retailer with a market capitalization of $14.51 million, has initiated a share repurchase offer for up to 100,000 of its common shares at $1.75 per share. The offer price represents a discount to the current trading price of $2.00, following a notable 38% surge in share value over the past six months, according to InvestingPro data. The buyback program is set to conclude on May 30, 2025, at 5:00 p.m. Eastern time, with the possibility of an extension or withdrawal of the offer. With a P/E ratio of 22.45, InvestingPro analysis indicates the stock trades with high price volatility, which shareholders should consider when evaluating the tender offer.

Shareholders are invited to tender their shares prior to the expiration date and time. The tender process allows shareholders to withdraw their shares anytime before the offer closes. The repurchase is subject to terms and conditions detailed in the offer documents, which will be provided to shareholders and made available online.

The purchase price will be paid in cash, deducting any applicable withholding taxes and expenses, in accordance with the repurchase offer’s terms, including proration rules outlined in the offer documents. The funding for this share repurchase will come from a portion of the company’s cash and investments.

Online Vacation Center Holdings Corp. has clarified that neither the company, its Board of Directors, nor its Transfer Agent is advising shareholders on whether to tender their shares. Shareholders must independently decide the number of shares they wish to sell.

The press release emphasizes that the information provided is solely for informational purposes and does not represent an offer to buy or a solicitation of an offer to sell shares. The actual offer to purchase is made exclusively through the offer documents soon to be distributed to shareholders, which contain critical details about the terms and conditions of the offer.

Online Vacation Center Holdings Corp. has a diversified portfolio, including various vacation marketing companies and online sales of golf training aids. With over 50 years in business, the company is headquartered in Fort Lauderdale, Florida, and operates several subsidiaries in the travel and leisure sector. InvestingPro analysis reveals challenges with gross profit margins and free cash flow yield, factors investors might want to consider alongside this share repurchase announcement. Subscribers can access additional insights and 3 more exclusive ProTips about ONVC’s financial health and market position.

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