EverCommerce Announces an Increase and Extension of its Share Repurchase Program
22 Maio 2024 - 8:30AM
EverCommerce Inc. (NASDAQ: EVCM), a leading provider of SaaS
solutions for service SMBs, today announced that its Board of
Directors has approved a $50 million increase to its previously
approved share repurchase program. Under the authorization, which
the Board has extended through December 31, 2025, the company may
opportunistically repurchase up to $200 million of its common
shares. Through May 21, 2024, the company has purchased
approximately 14.6 million shares for $136 million.
“We continue to evaluate our capital allocation priorities to
maximize shareholder value,” said Eric Remer, Chairman and CEO of
EverCommerce. “With the margin expansion and growth in cash flow
from operations we’ve achieved over the last 12-18 months, we have
the flexibility to expand our share repurchase program while also
making key investments in our business that we believe can result
in growth acceleration. Together with our Board of Directors, we
will continue to assess the best use of capital on a regular
basis.”
Repurchases under the program may be made from time to time in
the open market at prevailing market prices or in negotiated
transactions off the market. Open market repurchases will be
structured to occur within the pricing and volume requirements of
Rule 10b-18. The company may also, from time to time, enter into
Rule 10b5-1 plans to facilitate repurchases of its shares under
this authorization. This program does not obligate the company to
acquire any particular amount of common stock and the program may
be extended, modified, suspended or discontinued at any time at the
company’s discretion. The company expects to fund repurchases with
cash on hand.
Investor Contact:
Brad Korch
SVP and Head of Investor Relations
720-796-7664
ir@evercommerce.com
About EverCommerce
EverCommerce (Nasdaq: EVCM) is a leading service commerce
platform, providing vertically-tailored, integrated SaaS solutions
that help more than 690,000 global service-based businesses
accelerate growth, streamline operations, and increase retention.
Its modern digital and mobile applications create predictable,
informed, and convenient experiences between customers and their
service professionals. With its EverPro, EverHealth, and EverWell
brands specializing in Home, Health, and Wellness service
industries, EverCommerce provides end-to-end business management
software, embedded payment acceptance, marketing technology, and
customer experience applications. Learn more at
EverCommerce.com.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. All statements
contained in this press release that do not relate to matters of
historical fact should be considered forward-looking statements,
including without limitation statements regarding the amount,
timing and benefits of the share repurchase program, as well as the
expected sources of funding for the share repurchase program. These
statements are neither promises nor guarantees, but involve known
and unknown risks, uncertainties and other important factors that
may cause our actual results, performance or achievements to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
statements, including, but not limited to, risks relating to the
fact that repurchases of our common stock may not be conducted in
the time frame or in the manner the company expects, or at all, and
the important factors discussed under the caption “Risk Factors” in
the company's Annual Report on Form 10-K for the year ended
December 31, 2023, and other filings with the SEC. These factors
could cause actual results to differ materially from those
indicated by the forward-looking statements made in this press
release. Any such forward-looking statements represent management’s
estimates as of the date of this press release. While we may elect
to update such forward-looking statements at some point in the
future, we disclaim any obligation to do so, even if subsequent
events cause our views to change.
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