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）——在線小型企業組建中的第一選擇LegalZoom.com公司（納斯達克股票代碼：LZ）今天宣佈，其董事會已批准將公司現有股票回購計劃增加7500萬美元，使批准總額達到1.75億美元。截至2024年5月21日，該公司已根據該計劃以每股10.10美元的平均價格回購了約590萬股普通股，回購授權下還有約1.16億美元的可用資金。
"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."
LegalZoom首席執行官丹·韋爾尼科夫表示：“今天的公告反映了我們的平衡資本配置戰略，該戰略得到了我們強勁的現金創造的支持。”“我們穩健的財務狀況使我們能夠平衡增長戰略的投資，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.
根據公司的股票回購計劃，可以根據市場狀況、法律要求和其他公司考慮，通過任何方式不時進行回購，包括公開市場交易、加速股票回購協議或與第三方私下談判的交易，並以管理層認爲適當的金額進行回購。公司還可能不時訂立第10b5-1條的計劃，以促進其普通股的回購。股票回購計劃沒有固定的到期日，沒有規定公司有義務收購任何特定數量的普通股，公司董事會可以隨時自行修改、暫停或終止。
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.
LegalZoom
LegalZoom是美國領先的企業組建在線平台。LegalZoom以釋放企業家精神爲使命，通過易於使用的技術爲小企業主提供全面的法律、稅務和合規產品和專業知識。從免費企業組建到企業管理解決方案和專業諮詢服務，LegalZoom在整個創業之旅中爲數百萬小企業主及其家人提供支持。LegalZoom堅信每個人都應該有負擔得起的法律和金融專業知識，使企業家能夠將自己的夢想變爲現實。要了解有關 LegalZoom 的更多信息，請訪問 www.legalzoom.com.
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