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Mannatech Adopts $1.5M Stock Buyback Plan – Mannatech (NASDAQ:MTEX) – Stocks to Watch
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Mannatech Adopts $1.5M Stock Buyback Plan – Mannatech (NASDAQ:MTEX)

ByShivani Kumaresan

Sep 20, 2022
Mannatech Adopts $1.5M Stock Buyback Plan - Mannatech (NASDAQ:MTEX)

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  • Mannatech Inc MTEX Board of Directors has approved a share repurchase program to acquire up to $1.5 million of its outstanding shares.

  • The authorized repurchases will be made from time to time in the open market through block trades or privately negotiated transactions. 

  • The timing, volume, and nature of share repurchases will be at the discretion of management.

  • The repurchase program begins on September 19, 2022, and ends on the earlier of September 18, 2023, or reaching the goal.

  • The company intends to finance the repurchases with available cash.

  • Mannatech held ~$22 million in cash and equivalents as of June 30, 2022.

  • Price Action: MTEX shares are trading higher by 5.75% at $18.40 on the last check Tuesday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Image and article originally from www.benzinga.com. Read the original article here.

Shivani Kumaresan

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