Vistance Networks Increases Share Repurchase Program by $150 Million
Vistance Networks (NASDAQ: VISN) (“Vistance” or the “Company”), a global provider of intelligent network solutions, today announced that as part of ongoing efforts to maximize shareholder value, its Board of Directors has authorized an additional $150 million for its share repurchase program.
“This expanded authorization reflects our disciplined approach to capital allocation,” said Chuck Treadway, President and Chief Executive Officer of Vistance Networks. “We will continue to evaluate share repurchases against other strategic uses of capital and act when we believe repurchases offer compelling risk-adjusted returns for shareholders.”
Pursuant to the authorization, repurchases may be made from time to time in the open market, through privately negotiated transactions, block trades, or otherwise in accordance with applicable federal securities laws, including through trading plans adopted in accordance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The timing and amount of any repurchases will depend on a variety of factors, including the market price of the Company’s common stock, general market and economic conditions, applicable legal requirements, and alternative uses for cash. The share repurchase program does not obligate the Company to acquire any particular amount of common stock and may be suspended, modified, or discontinued at any time without prior notice.
