San Diego Charlotte Russe Holding Inc. said Wednesday its board approved an extension of the expiration date of its modified "Dutch Auction" tender offer.
The tender offer was originally set to expire at 5 p.m. on Thursday and will now expire at 5 p.m. on April 2, the company said.
The company said that given the timing of the Easter holiday and spring-break periods, the board believed it was appropriate to extend the date to after the company's fiscal quarter which ends March 29.
Charlotte Russe said that as of March 17, 2,845 shares of the company's stock had been tendered and deposited pursuant to the tender offer.
The company is offering to buy up to 4 million shares in the offer.
A modified "Dutch Auction" offer allows shareholders to indicate how many shares and at what price within the company's specified range they wish to tender.