An equity announcement has significantly impacted Shoals Technologies Group, Inc. (NASDAQ: SHLS), resulting in a notable rise in the company's stock price during the current-market session. As of the latest update, SHLS shares surged by 5.65%, reaching $7.20 on the US stock charts. This increase followed the company's announcement regarding a significant share repurchase program.
- Shares Repurchase Approval
- Agreement For Accelerated Share Repurchase
Shares Repurchase Approval
The buyback of up to $150 million worth of Shoals Technologies' Class A ordinary shares has been approved. Repurchases may proceed via a variety of avenues with this permission, such as accelerated share repurchases, open market transactions, private placements, and other legal procedures.
The company will most likely use its available cash, free cash flow, and credit facility borrowings to fund the repurchase program. Through the implementation of this repurchase program, Shoals Technologies hopes to demonstrate to its board and investors that it has faith in the company's long-term growth potential and business prospects.
Agreement For Accelerated Share Repurchase
Shoals Technologies engaged signed an Accelerated Share acquire (ASR) arrangement with Jefferies LLC to acquire $25 million of the company's Class A ordinary shares in accordance with the share buyback authority. Based on the closing price of $6.81 per share on June 10, 2024, Shoals Technologies will initially receive around 2,202,643 shares of Class A common stock, or about 60% of the ASR's notional value, as per the ASR rules.
During the ASR time, Shoals' Class A common stock price will be modified for a pre-agreed discount and other parameters, and the daily volume-weighted average price will determine the ultimate number of shares repurchased under the ASR. By the third quarter of 2024, the ASR is expected to be completed but Shoals technology is exploring many options with its cash flow, including as strategic acquisitions, debt reduction, share repurchasing, and investments in innovative technology. A bigger portion of the company's wealth generation strategy includes this repurchase program.
一項股權公告影響了Shoals Technologies Group，Inc.(NASDAQ:SHLS)，導致該公司股票價格在當前市場交易中顯著上漲。最新消息是，SHLS股票上漲5.65%，在美國股票市場上達到$7.20。該增長是由於公司關於重大股票回購計劃的公告而引起的。
股份回購批准
Shoals Technologies的A類普通股回購計劃最高可達1.5億美元，回購可以通過各種途徑進行，例如加速股票回購、公開市場交易、私人配售和其他合法手續。
該公司很可能利用現有的現金、自由現金流和信貸設施借款來資助回購計劃。通過實施這個回購計劃，Shoals Technologies希望向董事會和投資者展示它對公司長期增長潛力和業務前景的信心。
加速股份回購協議
Shoals Technologies簽訂了一份加速股份收購（ASR）協議，與Jefferies LLC一起按照股票回購授權收購了2500萬美元的公司A類普通股。根據2024年6月10日每股6.81美元的收盤價，Shoals Technologies最初將收到約2202643股A類普通股，相當於ASR名義價值的約60%。
在ASR期間，Shoals的A類普通股價格將按照預先約定的折扣和其他參數進行調整，每日成交量加權平均價格將決定ASR下回購的最終股數。到2024年第三季度，ASR預計將完成，但Shoals technology正在研究其現金流的多種選擇，包括戰略性收購、債務減輕、股票回購和投資於創新科技。該公司的財富創造策略的一個更大的部分包括這個回購計劃。
