ZYXI - Zynex spikes on plans for share buybacks

2023-06-14 10:02:55 ET

• Zynex, Inc. ( NASDAQ: ZYXI ) added ~8% in the morning hours Wednesday after the medical device maker announced that its director board greenlighted a program to buy back $10.0M worth of common stock.
• The program launched on Wednesday is expected to conclude in a year or when the buyback limit is reached. Over the period, the company will conduct buybacks from time to time in open market operations and negotiated settlements.
• "Zynex is acutely focused on delivering strong returns for our shareholders, and initiating this buyback is a signal of our confidence in the Company's inherent value," Chief Executive and founder of Zynex ( ZYXI ) Thomas Sandgaard remarked.
• The company expects to finance the repurchases from cash on hand and does not anticipate the program to cause a material impact on its capital levels.

For further details see: