- SPS Commerce ( NASDAQ: SPSC ) has announced a new share repurchase plan to buyback up to $50M of its common stock.
- The company’s Nov 2021 program that previously authorized repurchase of up to $50M will terminate when the new program goes into effect on August 26, 2022. Repurchases will be funded with cash on hand.
- As of June 30, 2022, SPSC had 36M shares of outstanding common stock.
- The new program will expire on July 26, 2024.
- In other news, the company reported better-than-expected Q2 results today
For further details see:
SPS Commerce announces $50M stock buyback plan