Anebulo Pharmaceuticals, Inc. 8-K

What Happened

• On January 27, 2026, Anebulo Pharmaceuticals, Inc. announced preliminary results of its previously announced tender offer to purchase up to 300,000 shares of its common stock at $3.50 per share. The tender offer expired shortly after 11:59 p.m. ET on January 26, 2026.
• Based on the preliminary count by the depositary (Broadridge), 4,897,188 shares were properly tendered and not properly withdrawn (excluding 10,868 shares tendered by guaranteed delivery), so the offer was oversubscribed.

Key Details

• Purchase price: $3.50 per share.
• Maximum shares to be purchased: 300,000; expected aggregate cost: approximately $1.05 million (excluding fees and expenses).
• Preliminary proration factor: approximately 3.51542%; Anebulo expects to accept shares on a pro rata basis (odd lots accepted in full).
• Preliminary figures exclude guaranteed-delivery shares and are subject to final confirmation by the depositary; final results and payment will follow completion of the confirmation process.

Why It Matters

• This is a modest cash buyback: the company expects to retire up to 300,000 shares for about $1.05M, which can slightly reduce outstanding shares and modestly affect per-share metrics.
• The offer was significantly oversubscribed, indicating more shareholders offered to sell than the company planned to buy; most tendering shareholders will likely have only a small portion of their shares accepted because of proration (~3.51542% preliminary).
• Final acceptance, payment, and return of non-purchased shares will occur after the depositary completes confirmation; investors should watch for the final announcement for confirmed purchase and proration results.