LegalZoom Announces Increase to Its Existing Share Repurchase Authorization
LegalZoom Announces Increase to Its Existing Share Repurchase Authorization
MOUNTAIN VIEW, Calif., May 22, 2024 (GLOBE NEWSWIRE) -- LegalZoom.com, Inc. (Nasdaq: LZ), the No. 1 choice in online small business formations, today announced that its Board of Directors has authorized an increase of $75 million to the Company's existing stock repurchase program, bringing the aggregate amount authorized to $175 million. As of May 21, 2024, the Company has repurchased approximately 5.9 million shares of its common stock under the program at an average price of $10.10 per share for approximately $59 million, leaving approximately $116 million available under the repurchase authorization.
加利福尼亞州山景城，2024年5月22日(GLOBE NEWSWIRE)——LegalZoom.com, Inc. (納斯達克股票代碼：LZ)，網絡小型企業成立的首選，今天宣佈其董事會已授權將現有的回購股票計劃增加7500萬美元，將授權的總金額提高至1.75億美元。截至2024年5月21日，公司已回購其普通股約590萬股（佔已發行普通股的6.05%），平均價格爲每股10.10美元，共約5900萬美元，剩餘回購授權金額爲約1.16億美元。
"Today's announcement reflects our balanced capital allocation strategy which is supported by our strong cash generation," said Dan Wernikoff, Chief Executive Officer of LegalZoom. "Our solid financial position provides us the ability to balance investments in our growth strategies, including long-term product development, with shareholder returns."
“今天的宣佈反映了我們平衡的資本配置策略，該策略得到了我們強勁現金流發電能力的支持，”LegalZoom首席執行官丹·沃尼科夫說。“我們堅實的財務狀況爲我們提供了平衡投資於我們的增長策略，包括長期產品開發，與股東回報。
Repurchases pursuant to the Company's stock repurchase program may be made from time to time, based on market conditions, legal requirements and other corporate considerations, through any manner, including open market transactions, accelerated stock repurchase agreements, or privately negotiated transactions with third parties, and in such amounts as management deems appropriate. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares of common stock. The stock repurchase program, which has no fixed expiration date, does not obligate the Company to acquire any particular amount of common stock and may be modified, suspended or terminated at any time at the discretion of the Company's Board of Directors.
公司根據其股票回購計劃進行的回購可能根據市場情況、法律要求和其他公司考慮因素，通過任何方式進行，包括在公開市場交易、加速回購協議或與第三方進行的私下協商交易中。公司還可能不時進行規則10b5-1計劃，以便回購其普通股。該股票回購計劃沒有固定的到期日，公司不必購買任何特定數量的普通股，並且可以根據公司董事會的自由裁量權，在任何時候修改、暫停或終止該計劃。
About LegalZoom
LegalZoom is the leading online platform for business formation in the United States. Driven by a mission to unleash entrepreneurship, LegalZoom delivers comprehensive legal, tax and compliance products and expertise for small business owners through easy-to-use technology. From free business formations to business management solutions and professional advisory services, LegalZoom supports millions of small business owners and their families throughout the entrepreneurial journey. Founded on the belief that everyone should have affordable access to legal and financial expertise, LegalZoom empowers entrepreneurs to make their dream a reality. To learn more about LegalZoom, visit www.legalzoom.com.
關於LegalZoom
LegalZoom是美國企業成立的領先在線平台。LegalZoom的使命是解放企業家精神，通過易於使用的技術提供綜合的法律、稅收和合規產品和專業知識，爲小企業主提供支持。從免費的企業成立到企業管理解決方案和專業諮詢服務，LegalZoom支持成千上萬的小企業主及其家庭在創業過程中。由於相信每個人都應該提供負擔得起的法律和財務專業知識，LegalZoom賦予企業家實現夢想的力量。欲了解有關LegalZoom的更多信息，請訪問www.legalzoom.com.
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