NVOS - Novo Integrated conducts strategic review to increase maximum amount under buyback program
2024-05-31 09:16:37 ET
- Novo Integrated Sciences ( NASDAQ: NVOS ) on Friday said its board is conducting a strategic review to determine whether it is appropriate to increase the maximum amount that can be repurchased under its stock buyback program.
- A potential repurchase will be funded by any excess funds that may be generated from the company's recently disclosed program to monetize a standby letter of credit intended to complete the Ophir Collection acquisition.
- As previously reported, Novo Integrated Sciences approved the repurchase of up to $5 million of the company’s outstanding common stock from time to time in the open market at prevailing market prices or in privately negotiated transactions.
- NVOS +118.27% premarket to $0.9844
- Source: Press Release