2023-03-21 07:12:58 ET
- Select Energy Services ( NYSE: WTTR ) has launched a new share repurchase program to buy back $50M shares of Class A common stock.
- This new authorization is in addition to the $8.6M remaining outstanding under the company's previous $25M authorization, as of December 31, 2022.
- The combined outstanding repurchase authorization represents nearly 10% of the company's outstanding Class A common stock based on the closing price on Friday, March 17, 2023.
- Repurchases will be funded using working capital and cash flow from operations, as well as borrowings under its sustainability-linked credit facility.
For further details see:
Select Energy Services launches $50M stock buyback plan