The purchase price equals a five-cent discount to the volume-weighted average price of Javelin common stock traded on Dec. 13.
Bulldog also has, among other things, agreed to withdraw its slate of 2014 Javelin board nominees and vote all of its shares in support of all of Javelin's director nominees.
Javelin previously authorized the repurchase of up to 2 million shares of common stock. The Vero Beach, Fla.-based mortgage-backed securities investor has spent more than $15 million on shares already repurchased in the open market this quarter. A total 9% of its shares will be repurchased.
