Phillip A. Wiland, chairman and CEO of relationship marketing company Concepts Direct, has made an offer to buy the company for $2.1 million.
In a letter of intent submitted to the company’s board last week, Wiland and his wife, Linda S. Wiland, said they would pay approximately $0.68 per share in cash (about $2.1 million), based on the 3.1 million shares of the company owned by people other than the Wilands.
The Wilands also would pay off the principal balance of $1.28 million, plus accrued interest to St. Cloud Capital Partners LP.
Concepts Direct, in Longmont, CO, sells direct personalized paper products, gifts, collectibles and apparel.
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