Ascend Wellness Holdings, Inc. announced on December 27, 2024, that its Board of Directors authorized a new share buyback program. This Normal Course Issuer Bid (NCIB) will commence on January 2, 2025.
Under the program, the company may repurchase up to the lesser of 10,215,690 shares of its Class A common stock, representing approximately 5.0% of outstanding shares, or US$2.25 million worth of common shares. As of December 24, 2024, there were 204,313,808 issued and outstanding common shares.
CEO Sam Brill emphasized that this program is another meaningful step to create shareholder value, following a prior share repurchase and open market purchases by board members. The program is intended to demonstrate confidence in the company's strategy and commitment to driving returns for investors, expiring on January 1, 2026.
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