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Shoals Technologies Group Launches $150 Million Share Repurchase Program to Boost Stock Performance Amidst -53.72% Year to Date Decline


Published / Modified Jun 11 2024
CSIMarket Team / CSIMarket.com


1.
In a recent press release, Shoals Technologies Group, Inc.
(SHLS) has announced a significant $150 million share repurchase program.
This program allows the company to buy back its own Class A common stock until December 31, 2025.
Repurchases can be made in various ways, including open market transactions, private negotiations, or accelerated share repurchases, ensuring compliance with federal securities laws.

Shoals Technologies Group, Inc.
specializes in providing electrical balance of system solutions for the energy transition market.
With this share repurchase program, the company aims to utilize its financial resources to support its growth and enhance shareholder value.
The repurchases are expected to be funded through a combination of cash on hand, free cash flow, and borrowings under the company's credit facilities.

The impact of this announcement on the company's shares is yet to be determined.
As of the writing of this article, Shoals Technologies Group Inc.'s share price stands at $6.81.
However, it's worth noting that the year to date performance for SHLS shares has been negative, with a decline of -53.72%. Investors will closely monitor how the implementation of the share repurchase program influences the company's stock performance moving forward.













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