Variflex Board to Buy Company Shares at $6.50

The board of directors of Variflex Inc. in Moorpark has decided to purchase up to 750,000 shares of the company’s common stock at $6.50 per share.

Variflex expects to pay a maximum of $4.8 million in cash for the shares. No directors, executive officers or affiliates of the company intend to tender shares pursuant to the offer.

“The board of directors believes that Variflex’s financial condition and outlook, and . . . the recent prices of the shares make this an attractive time to repurchase a portion of the outstanding shares,” said Mark S. Siegel, chairman of the board.

Variflex is a wholesaler and distributor of in-line skates, skateboards, recreational safety helmets, athletic protective equipment and yo-yos. The company also sells Quik Shade, a portable instant canopy, snowboards and related accessories, and the Airzone spring-less trampoline.