Current Report Filing (8-k)
April 29 2022 - 05:49PM
Edgar (US Regulatory)
false 0001354866 0001354866 2022-04-28
2022-04-28
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported): April 28,
2022
BYRNA TECHNOLOGIES INC.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of incorporation)
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333-132456 |
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71-1050654 |
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(Commission File
Number) |
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(IRS Employer
Identification No.) |
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100 Burtt Road, Suite 115
Andover, MA 01810
(Address and Zip Code of principal executive offices)
(978) 868-5011
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐ Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of exchange on which registered
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Common Stock, $0.001 par value
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BYRN
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Nasdaq Capital Market
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Indicate by check mark whether the registrant is an emerging growth
company as defined in Rule 405 of the Securities Act of 1933
(§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange
Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period
for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
☐
As previously reported, on December 5, 2021, the Board of Directors
(the “Board”) of Byrna Technologies Inc. (“Byrna” or the “Company”)
authorized a stock repurchase program (the “Program”). Under the
Program, the Company may repurchase up to $30 million of its common
stock during a period of two years. The Program permits shares to
be repurchased in open market or private transactions, through
block trades, and pursuant to any trading plan that may be adopted
in accordance with Rule 10b5-1 promulgated under the Securities
Exchange Act of 1934, as amended (the “Exchange Act”).
On February 15, 2022, the Board adopted a written stock repurchase
plan (the “February 2022 Plan”) under the Program and in accordance
with Rules 10b5-1 and 10b-18 promulgated under the Exchange Act, to
be in effect through April 29, 2022. On April 28, 2022, having
exhausted the maximum amount of funds authorized by the February
2022 Plan, the Board adopted a new written stock repurchase plan
(the “April 2022 Plan”) under the Program, authorizing the
repurchase of up to an additional $5 million of its common stock in
accordance with the guidelines specified by Rules 10b5-1 and
10b-18. The April 2022 Plan will commence in May and be in effect
through November 2, 2022. Repurchases may include open market
purchases and block trades. The plan will be administered by
Raymond James & Associates, Inc. and the Company intends to use
available cash to fund the repurchases. There can be no assurance
as to the exact number, or aggregate value, of shares of common
stock that may be repurchased by the Company under the April 2022
Plan.
Item 9.01.
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Financial Statements and Exhibits.
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99.1 |
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104
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Cover Page Interactive Data File - the cover page XBRL tags are
embedded within the Inline XBRL Document.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned hereunto duly authorized.
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BYRNA TECHNOLOGIES
INC.
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By:
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/s/ Bryan
Ganz
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Name: Bryan
Ganz
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Title: Chief
Executive Officer
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