urban-gro, Inc. (NASDAQ:UGRO) announced that its board of directors has authorized an additional $1.5 million expansion to its existing stock repurchase program.
The expansion builds upon the company’s existing repurchase authorization of $7 million, which was recently increased by $2 million on January 18, 2022.
Under the new authorization, urban-gro may now purchase up to a combined $8.5 million of the company’s common stock from time to time in the open market or in privately negotiated transactions in compliance with the applicable rules and regulations of the Securities and Exchange Commission.
The timing and amount of stock repurchases under the program, if any, will be at the discretion of management, and will depend on a variety of factors, including price, available cash, general business and market conditions and other investment opportunities.
In addition, there can be no assurance as to the number or aggregate dollar amount of shares, if any, that will be repurchased under the program. The company may discontinue the program at any time.
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