Weis Markets, Inc. has announced the purchase of 2,153,846 shares of the company's common stock for a total of $140,000,000, at approximately $65.00 per share. This purchase represents a 12.3% discount to the closing price of the common stock as of June 5, 2025. After this transaction, the sellers continue to own 4,051,383 shares of common stock, and members of the Weis family remain owners of approximately 61% of the outstanding common stock.
The purchase was funded through a combination of cash on hand and cash from the sale of marketable securities. Notably, the purchase price also represents a 15.6% discount to the 30-day volume weighted average trading price, a 12.8% discount to the 180-day volume weighted average trading price, and an 8.4% discount to the 1-year volume weighted average trading price of the common stock as of June 5, 2025.
The purchase agreement was approved by the company's board of directors, with Jonathan H. Weis recusing himself from voting. A special committee of disinterested, independent directors recommended the agreement, and Kroll, LLC provided a fairness opinion as the independent financial advisor to the special committee.
Weis Markets, Inc., founded in 1912 and listed on the NYSE under the ticker symbol WMK, operates 198 stores in the mid-Atlantic region.
These specific figures and percentages shed light on the significant purchase of shares and the financial considerations involved in this transaction. Following these announcements, the company's shares moved 2.62%, and are now trading at a price of $76.02. If you want to know more, read the company's complete 8-K report here.
