Webull announces $100M share repurchase, highlighting financial strength and long-term shareholder value growth outlook.
Webull announces $100M share repurchase, highlighting financial strength and long-term shareholder value growth outlook.
Webull Corporation (NASDAQ:BULL) announced today that its board of directors has authorized a share repurchase program. Under this program, the company may repurchase up to $100 million of its Class A ordinary shares over the next 12 months.
To begin with, Webull will carry out repurchases from time to time through open market transactions at prevailing market prices. In addition, the company may complete purchases through privately negotiated transactions, block trades, or other legally permissible methods. These actions will depend on market conditions and will follow all applicable rules and regulations.
Moreover, Webull may enter into one or more trading plans to execute the repurchase program efficiently. At the same time, the company plans to fund the program using its existing cash reserves along with future cash flow.
Meanwhile, Webull will decide the timing and amount of share repurchases based on several key factors. These include its capital position, liquidity, financial performance, alternative uses of capital, share trading price, regulatory requirements, and general market conditions. However, the company does not commit to purchasing any specific number of shares. As a result, Webull may modify, suspend, or discontinue the repurchase program at any time.
Anthony Denier, Group President and U.S. Chief Executive Officer of Webull Corporation, said that today’s announcement reflects the company’s continued focus on optimizing its capital structure and delivering long-term value to shareholders. He added that the decision demonstrates confidence in Webull’s long-term outlook, financial position, and growth prospects.
Similarly, H.C. Wang, Chief Financial Officer of Webull Corporation, stated that the share repurchase program highlights the company’s balance sheet strength. He also noted that Webull can return capital to shareholders while maintaining flexibility to invest in its growth priorities.
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