Ultimate Corp, which paid $4m for its undisclosed stake in Marlborough, Massachusetts-based Sequoia Systems Inc is to sell 475,059 shares in Sequoia back to the company in to pay for $5.226m of receivables owed by Ultimate to Sequoia; the transaction will cut the number of Sequoia shares outstanding by approximately 5.6%.
Ultimate Corp, which paid $4m for its undisclosed stake in Marlborough, Massachusetts-based Sequoia Systems Inc is to sell 475,059 shares in Sequoia back to the company in to pay for $5.226m of receivables owed by Ultimate to Sequoia; the transaction will cut the number of Sequoia shares outstanding by approximately 5.6%.
