SAND SPRINGS, Okla., Jan. 2, 2025 — Webco Industries, Inc. (OTC: WEBC) today announced a private purchase of 143,443 shares of its common stock for a total of $28.7 million. This represents 16.8% of Webco’s outstanding shares before the purchase. The company used a mix of cash and a revolving line of credit to fund the acquisition.

Dana S. Weber, Webco’s Chairman and CEO, stated that the company was approached by a shareholder about selling their shares. Following board approval, the purchase proceeded. After the transaction, 712,300 shares remain outstanding, with approximately 78.5 percent owned by the combined families of F. William Weber and management. The company expressed satisfaction with its historical ability to provide shareholder liquidity.

Webco’s mission is to build upon its strengths to create a lasting company. The company emphasizes trust and teamwork, continually enhancing strength, agility, and innovation. Webco’s focus on supporting its brand ensures 100% commitment to building a sustainable company for its employees, customers, partners, investors, and the community. The company produces high-quality carbon steel, stainless steel, and other specialty metal tubing products, customized to meet industry and customer needs. Webco operates five tube production facilities in Oklahoma and Pennsylvania and eight value-added facilities in Oklahoma, Illinois, Michigan, Pennsylvania, and Texas, serving global customers. The F. William Weber Leadership Campus in Sand Springs, Oklahoma, houses corporate offices and the Webco TechCenter, a state-of-the-art laboratory and R&D facility dedicated to developing technical solutions.

SOURCE Webco Industries, Inc.