TTSH - The Tile Shop announces $30M share repurchase authorization

• Tile Shop ( NASDAQ: TTSH ) announced that the company's board has authorized a share repurchase program pursuant to which the company may purchase shares of its common stock for an aggregate repurchase price not to exceed $30M.
• After review and consideration of capital allocation alternatives with its financial advisor, the board approved the $30M share repurchase program.
• The repurchase program has no expiration date and may be modified, suspended or terminated at any time.
• Repurchases under this program will be funded from the company’s existing cash and cash equivalents, borrowings against the company’s revolving line of credit and future cash flow.
• As of June 30, 2022, the company had $10.5M of cash and cash equivalents and $92.6M available for borrowing on its revolving line of credit.

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