Stamps.com Doubles Current Share Repurchase Program to $120 Million
March 02 2021 - 8:30AM
Business Wire
Stamps.com® (Nasdaq: STMP) today announced that on February 26,
2021 the Company increased its current share repurchase plan in
response to increased market volatility. The amended plan may
repurchase up to $120 million of stock through the plan's
expiration in August 2021 versus the previously authorized amount
of up to $60 million.
For more information, please visit https://investor.stamps.com
or call Stamps.com Investor Relations at (310) 482-5830.
About Stamps.com
Stamps.com (NASDAQ: STMP) is the leading provider of postage
online and shipping software solutions to customers including
consumers, small businesses, e-commerce shippers, enterprises, and
high volume shippers. Stamps.com offers solutions that help
businesses run their shipping operations more smoothly and function
more successfully under the brand names Stamps.com, Endicia®,
Metapack®, ShipEngine®, ShippingEasy®, ShipStation®, and
ShipWorks®. Stamps.com’s family of brands provides seamless access
to mailing and shipping services through integrations with more
than 500 unique partner applications.
Share Repurchase Timing
The timing of share repurchases, if any, and the number of
shares to be bought at any one time will depend on factors
including market conditions and the Company’s compliance with the
covenants in its Amended and Restated Credit Agreement. Share
repurchases may be made from time to time on the open market or in
negotiated transactions at the Company’s discretion in compliance
with Rule 10b-18 of the United States Securities and Exchange
Commission. The Company’s purchase of any of its shares may be
subject to limitations imposed on such purchases by applicable
securities laws and regulations and the rules of the Nasdaq Stock
Market.
"Safe Harbor" Statement Under the Private Securities
Litigation Reform Act of 1995
This release may include “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are statements that are not historical
facts, and may relate to future events or the Company’s anticipated
results, business strategies or capital requirements, among other
things, all of which involve risks and uncertainties. You can
identify many (but not all) such forward-looking statements by
looking for words such as “assumes,” “approximates,” “believes,”
“expects,” “anticipates,” “estimates,” “projects,” “seeks,”
“intends,” “plans,” “could,” “would,” “may” or other similar
expressions. Important factors which could cause actual results to
differ materially from those in the forward-looking statements, are
detailed in filings with the Securities and Exchange Commission
made from time to time by Stamps.com, including its Annual Report
on Form 10-K for the year ended December 31, 2020. Matters
described in forward-looking statements may also be affected by
other known and unknown risks, trends, uncertainties and factors,
many of which are beyond the Company’s ability to control or
predict. Copies of these filings may be obtained by visiting our
investor relations website at www.stamps.com or the SEC’s website
at www.sec.gov. Stamps.com undertakes no obligation to release
publicly any revisions to any forward-looking statements to reflect
events or circumstances after the date hereof or to reflect the
occurrence of unanticipated events.
Trademarks
Stamps.com, the Stamps.com logo, Endicia, Metapack, ShipEngine,
ShippingEasy, ShipStation and ShipWorks, are registered trademarks
of Stamps.com Inc. and its subsidiaries. All other brands and names
used in this release are the property of their respective
owners.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210302005304/en/
Investor Contact: Suzanne Park Stamps.com Investor Relations
(310) 482-5830 invrel@stamps.com Press Contact: Eric Nash
Stamps.com Public Relations (310) 482-5942 enash@stamps.com
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