Shoals Technologies Group Inc (NASDAQ:SHLS) shares are trading higher by 9.2% to $7.43 during Tuesday’s session after the company announced a $150 million share repurchase program for its Class A common stock, effective through December 31, 2025.
The program will be funded by cash reserves, free cash flow and credit facility borrowings. CEO Brandon Moss stated this reflects confidence in Shoals’ growth.
Shoals also entered an Accelerated Share Repurchase (ASR) agreement with Jefferies LLC for $25 million, initially receiving about 2.2 million shares. The final number of shares will depend on the average stock price during the ASR, ...
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