Hudson Technologies Inc.
10/25/2024 | Press release | Distributed by Public on 10/25/2024 10:04
Hudson Technologies Board of Directors Approves Increase to Company’s Share Repurchase Program
WOODCLIFF LAKE, NJ - OCTOBER 25, 2024 - Hudson Technologies, Inc. (NASDAQ: HDSN) announced that its board of directors has approved an increase to the Company's share repurchase program. Hudson may now purchase up to $20 million in shares of its common stock, consisting of up to $10 million in shares during each of calendar year 2024 and 2025. The Company had previously announced that its board had authorized the repurchase of $10 million of outstanding common stock during 2024 and 2025.
Under the share repurchase program, Hudson may purchase shares of its common stock on a discretionary basis from time to time through open market repurchases or privately negotiated transactions or through other means, including by entering into Rule 10b5-1 trading plans, in each case, during an "open window" and when the Company does not possess material non-public information. The timing and actual number of shares repurchased under the repurchase program will depend on a variety of factors, including stock price, trading volume, market conditions, corporate and regulatory requirements and other general business considerations. The repurchase program may be modified, suspended or discontinued at any time without prior notice.
Brian F. Coleman, President and Chief Executive Officer of Hudson Technologies commented, "Our strengthened balance sheet gives us the flexibility to invest in growth while also effectively returning capital to shareholders. We believe the board's approval to increase the buyback program reflects its confidence in Hudson's ability to drive long-term growth and reinforces our commitment to a disciplined capital allocation strategy which includes business working capital needs, acquisitions and share repurchases."