Business
Sportsman's Warehouse Holdings, Inc. Announces Approval of $75 Million Share Repurchase Program
WEST JORDAN, Utah, March 24, 2022 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. ("Sportsman's Warehouse" or the “Company”) (Nasdaq: SPWH) today
About this update from Sportsman's Warehouse Holdings, Inc.
[{"type":"text","content":"WEST JORDAN, Utah, March 24, 2022 (GLOBE NEWSWIRE) -- Sportsman's Warehouse Holdings, Inc. (\"Sportsman's Warehouse\" or the “Company”) (Nasdaq: SPWH) today announced that its Board of Directors authorized a share repurchase program (the “Repurchase Program”) to allow for the repurchase of up to $75.0 million of outstanding shares of the Company’s common stock, $.01 par value per share, commencing on March 31, 2022 (the “Commencement Date”). The Repurchase Program will terminate on the first anniversary of the Commencement Date. “We are pleased that the Board has approved this share repurchase program,” commented Jeff White, Chief Financial Officer of Sportsman’s Warehouse. “This decision demonstrates our confidence in our business fundamentals and the strength of our balance sheet. As we consider our capital allocation priorities, we believe this repurchase program is another effective way of deploying our capital and returning value to stockholders.” Under the Repurchase Program, the Company may repurchase shares of its common stock at any time or from time to time, without prior notice, subject to market conditions and other considerations. The Company’s repurchases may be made through Rule 10b5-1 plans, accelerated share repurchase transactions, open market purchases, privately negotiated transactions, tender offers, block purchases or other transactions. The Company intends to fund repurchases under the Repurchase Program using cash on hand or available borrowings under its revolving credit facility. The Company has no obligation to repurchase any shares of its common stock under the Repurchase Program and may modify, suspend or discontinue it at any time. About Sportsman's Warehouse Holdings, Inc. Sportsman’s Warehouse Holdings, Inc. is one of the fastest growing outdoor specialty retailers, operating 122 stores in 29 states. We provide outstanding gear and exceptional service to inspire outdoor memories. For press releases and certain additional information about the Company, visit the Investor Relations section of the Company's website at www.sportsmans.com. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as contained in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 19...