Conn's Board Authorizes $150 Mln Share Buyback Program - Quick Facts

(RTTNews) - Specialty retailer Conn's, Inc. (CONN) announced Wednesday its Board of Directors has authorized a $150 million share repurchase program for the Company's outstanding stock. The authorization to repurchase expires on December 14, 2022.

The $150 million share repurchase program is the largest in Conn's history and represents approximately 30% of its current market capitalization.

Under the repurchase program, the Company may purchase shares of its common stock through open market transactions, privately negotiated transactions, block purchases or otherwise in accordance with applicable federal securities law and pursuant to any trading plan.

The timing and amount of any repurchases under this program will be determined by the Company's management at its discretion based on a variety of factors, including the market price of our common stock, corporate considerations, general market and economic conditions, and legal requirements.

The Company anticipates funding for this program to come from available corporate funds, including cash on hand and future cash flow, as well as from drawing on its revolving credit facility.