Shoals Technologies Group Board Authorizes Up To $150M Share Repurchase Program And Enters Into $25M Accelerated Share Repurchase Agreement With Jefferies
Portfolio Pulse from Benzinga Newsdesk
Shoals Technologies Group has authorized a share repurchase program of up to $150 million and entered into a $25 million accelerated share repurchase agreement with Jefferies.
June 11, 2024 | 12:03 pm
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POSITIVE IMPACT
Shoals Technologies Group has authorized a $150 million share repurchase program and entered into a $25 million accelerated share repurchase agreement with Jefferies. This move is likely to positively impact the stock price in the short term as it signals confidence in the company's future prospects and can reduce the number of shares outstanding.
Share repurchase programs generally indicate that the company believes its stock is undervalued and is confident in its future performance. The $25 million accelerated share repurchase agreement with Jefferies will immediately reduce the number of shares outstanding, likely leading to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100