Business
ZoomInfo Announces $100 Million Share Repurchase Program
VANCOUVER, Wash.--(BUSINESS WIRE)-- ZoomInfo (NASDAQ: ZI) (The “Company”), the go-to-market platform to find, acquire, and grow customers, today announced
About this update from Zoominfo Technologies Inc.
[{"type":"text","content":" VANCOUVER, Wash.--(BUSINESS WIRE)--\nZoomInfo (NASDAQ: ZI) (The “Company”), the go-to-market platform to find, acquire, and grow customers, today announced that its Board of Directors approved a share repurchase program authorizing the Company to repurchase, from time to time, up to $100 million of the Company’s Common Stock.\n\n“Based on our continued success generating a strong combination of growth, profitability, and free cash flow at scale, we have the opportunity to invest in the business and enhance shareholder value through a share repurchase program,” ZoomInfo Founder and CEO Henry Schuck said. “We expect to be opportunistic with this initial share repurchase program, and while the current economic environment remains uncertain, we are confident in our ability to drive sustainable growth while compounding free cash flow over the long-term.”\n\nThe shares of Common Stock proposed to be acquired in the share repurchase program may be repurchased from time to time in open market transactions or by other means in accordance with federal securities laws. The Company intends to fund repurchases from available working capital and cash provided by operating activities. The timing, as well as the number and value of shares of Common Stock repurchased under the program, will be determined by the Company at its discretion and will depend on a variety of factors, including management’s assessment of the intrinsic value of the Company’s shares of Common Stock, the market price of the Company’s Common Stock, general market and economic conditions, available liquidity, alternative investment opportunities, compliance with the Company’s debt and other agreements, and applicable legal requirements. The exact number of shares of Common Stock to be repurchased by the Company is not guaranteed, and the program may be suspended, modified, or discontinued at any time without prior notice.\n\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall it constitute an offer, solicitation, or sale in any jurisdiction in which such offer, solicitation, or sale is unlawful.\n\nCautionary Statement Regarding Forward-Looking Information\n\nThis press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results m...