On February 24, 2025, Sonos announced that its Board of Directors authorized a new common stock repurchase program of up to $150 million. This new authorization replaces the company’s existing $200 million program, which had $11 million remaining and expired upon the new program's approval.
The repurchase program allows Sonos to acquire shares on a discretionary basis through various means, including open market repurchases, privately negotiated transactions, or Rule 10b5-1 trading plans. The timing and volume of repurchases will depend on factors such as stock price, trading volume, and market conditions.
Sonos stated that the repurchases under this program will be funded from its existing cash and cash equivalents or future cash flow. This initiative demonstrates the company's commitment to returning capital to shareholders and reflects confidence in its financial position and future prospects.
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