avantax inc shares were up 8 to 2945 after the company said it has begun a modified dutch auction tender offer to buy for cash up to 250 million of its common stock at a price per share not less than 27 and not greater than 31 the company will use proceeds from its recent sale of its taxsoftware business which closed dec 19 2022 and borrowings under its credit facility the tender offer will expire at 1200 am et at the end of the day on feb 24 unless extended or terminated if the tender offer is fully subscribed the company will purchase between 8 million and 93 million shares or 1675 to 1923 of its outstanding stock a modified dutch auction tender offer allows stockholders to indicate how many shares of stock and at what price within the range described above they wish to tender their shares avantax shares hit their 52week high of 3022 earlier in the session and are up 91 in the past twelve months