Business
American Outdoor Brands Board of Directors Approves $10 Million Share Repurchase Program
COLUMBIA, Mo., Sept. 25, 2024 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), an innovation company that provides product
About this update from Smith & Wesson Brands, Inc.
[{"type":"text","content":"COLUMBIA, Mo., Sept. 25, 2024 /PRNewswire/ -- American Outdoor Brands, Inc. (NASDAQ Global Select: AOUT), an innovation company that provides product solutions for outdoor enthusiasts, today announced that its Board of Directors has approved the repurchase of up to $10 million of the Company's outstanding common stock (\"shares\") commencing on October 1, 2024, and ending on September 30, 2025.\n\n \n \n \n \n \n \n\n \nThe program follows the Company's prior share repurchase program, which authorized the Company to repurchase up to $10.0 million of its common stock, was initiated in 2023 and, as of September 24, 2024, resulted in 412,735 shares, repurchased at an average price of $8.70 per share, or roughly $3.6 million in the aggregate. \nPresident and Chief Executive Officer, Brian Murphy, said, \"Today's announcement conveys our board's continued confidence in our business and dedication to stockholder value creation. Given our strong, debt-free balance sheet, we maintain our commitment to effective capital allocation, prioritizing our investments in growth, both organically and through opportunistic and accretive M&A activity, while maintaining our commitment to returning capital to our stockholders.\"\nThe shares may be repurchased from time to time on the open market, in block trades, or in privately negotiated transactions. The amount and timing of any shares repurchased under the program will be determined at the discretion of management and will depend on a number of factors, including the market price of the Company's stock, trading volume, general market and economic conditions, the Company's capital position, legal requirements, and other factors. The repurchase program does not obligate the Company to acquire any particular number of shares, and the repurchase program may be discontinued at any time at the Company's discretion.\nStatement Regarding Forward-Looking InformationThe statements contained in this release that are not historical are forward-looking statements within the meaning of the U.S. federal securities laws and we intend that such forward-looking statements be subject to the safe harbor created thereby. Statements that are not historical facts, including statements about anticipated financial outcomes, and share repurchases, as well as other statements about our expectations, beliefs, intentions, or...