BeautyHealth to Initiate Stock Repurchase Program, Following Recent $100 Million Share Repurchase Authorization
September 20 2023 - 8:00AM
Business Wire
The Beauty Health Company (NASDAQ: SKIN), home to flagship brand
Hydrafacial, today announced it will initiate a stock repurchase
program on September 26, 2023 via Rule 10b5-1. The action follows
the recent authorization by the Company’s Board of Directors to
repurchase up to $100 million of its common stock.
The extent to which the Company repurchases shares, and the
timing of such repurchases, will depend upon a variety of factors
as determined by the Company’s management. Purchases may be
affected through one or more open market transactions, privately
negotiated transactions, transactions structured through investment
banking institutions, or a combination of the foregoing. The
Company expects to fund its share repurchases with existing cash on
hand and is not obligated under the program to acquire any
particular amount of stock. The Company can suspend or terminate
the program at any time.
A previous announcement of the share repurchase authorization,
dated September 12, 2023, incorrectly stated the trading plan would
be implemented in Q3 2024. The Company corrected the date in a
Current Report on Form 8-K filed with the Securities and Exchange
Commission on September 13, 2023 and on its website to indicate the
intention of management to implement the trading plan in Q3
2023.
About The Beauty Health Company
The Beauty Health Company (NASDAQ: SKIN) is a global
category-creating company delivering millions of skin health
experiences every year that help consumers reinvent their
relationship with their skin, bodies, and self-confidence. Our
brands are pioneers: Hydrafacial™ in hydradermabrasion, SkinStylus™
in microneedling, and Keravive™ in scalp health. Together, with our
powerful community of estheticians, partners, and consumers, we are
personalizing skin health for all ages, genders, skin tones, and
skin types in more than 90 countries. We are committed to being
ever more mindful in how we conduct our business to positively
impact our communities and the planet. Find a local provider at
https://hydrafacial.com/find-a-provider/, and learn more at
beautyhealth.com or LinkedIn.
Forward-Looking Statements
Certain statements made in this release are “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995,
including statements regarding The Beauty Health Company’s
strategy, plans, objectives, initiatives and financial outlook.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside The Beauty Health Company’s
control, that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on any
forward-looking statements.
Important factors that may affect actual results or outcomes
include, among others: The Beauty Health Company’s ability to
manage growth; The Beauty Health Company’s ability to execute its
business plan; potential litigation involving The Beauty Health
Company; changes in applicable laws or regulations; and the
possibility that The Beauty Health Company may be adversely
affected by other economic, business, and/or competitive factors.
The Beauty Health Company does not undertake any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events, or otherwise, except as
required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20230920677743/en/
Investors: IR@beautyhealth.com Press: press@beautyhealth.com
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