Thryv Announces $40 Million Share Repurchase Program
May 02 2024 - 7:35AM
Business Wire
Thryv Holdings, Inc. (NASDAQ:THRY) (“Thryv” or the “Company”),
the provider of Thryv®, the leading small business software
platform, today announced that its Board of Directors has
authorized a stock repurchase program under which the Company can
repurchase up to $40 million of the currently outstanding shares of
the Company’s common stock.
Shares may be repurchased in open market or private transactions
or pursuant to any trading plan that may be adopted in accordance
with Rule 10b5-1 of the Securities and Exchange Commission (“SEC”).
The timing and amount of any repurchases will depend on a number of
factors, including the availability of stock, general market
conditions, the trading price of the stock, alternative uses for
capital, and the Company’s financial performance. Open market
purchases will be made in accordance with Rule 10b-18 of the SEC
and other applicable legal requirements. The Company is not
obligated to repurchase any particular number of shares or any
shares in any specific time period and the program may be modified,
suspended, or discontinued at any time. Payment for shares
repurchased under the program will be funded using the Company's
available liquidity.
Forward-Looking Statements
Certain statements contained herein are not historical facts,
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995 and involve a
number of risks and uncertainties. Statements that include the
words “may”, “will”, “could”, “should”, “would”, “believe”,
“anticipate”, “forecast”, “estimate”, “expect”, “preliminary”,
“intend”, “plan”, “target”, “project”, “outlook”, “future”,
“forward”, “guidance” and similar statements of a future or
forward-looking nature identify forward-looking statements. These
statements are not guarantees of future performance. These
forward-looking statements are based on our current expectations
and beliefs concerning future developments and their potential
effect on us. While management believes that these forward-looking
statements are reasonable as and when made, there can be no
assurance that future developments affecting us will be those that
we anticipate. Accordingly, there are or will be important factors
that could cause our actual results to differ materially from those
indicated in these statements. We believe that these factors
include, but are not limited to, the risks related to the
following: the Company’s ability to maintain adequate liquidity to
fund operations; the Company’s future operating and financial
performance; the Company’s ability to consummate acquisitions, or,
if consummated, to successfully integrate acquired businesses into
the Company’s operations, the Company’s ability to recognize the
benefits of acquisitions, or the failure of an acquired company to
achieve its plans and objectives; limitations on our operating and
strategic flexibility and the ability to operate our business,
finance our capital needs or expand business strategies under the
terms of our credit facilities; our ability to retain existing
business and obtain and retain new business; general economic or
business conditions affecting the markets we serve; declining use
of print yellow page directories by consumers; our ability to
collect trade receivables from clients to whom we extend credit;
credit risk associated with our reliance on small and medium sized
businesses as clients; our ability to attract and retain key
managers; increased competition in our markets; our ability to
obtain future financing due to changes in the lending markets or
our financial position; our ability to maintain agreements with
major Internet search and local media companies; reduced
advertising spending and increased contract cancellations by our
clients, which causes reduced revenue; and our ability to
anticipate or respond effectively to changes in technology and
consumer preferences as well as the risks and uncertainties set
forth in the Company's most recent Annual Report on Form 10-K filed
with the Securities and Exchange Commission. All subsequent written
and oral forward-looking statements attributable to us or persons
acting on our behalf are expressly qualified in their entirety by
such cautionary statements.
If one or more events related to these or other risks or
uncertainties materialize, or if our underlying assumptions prove
to be incorrect, actual results may differ materially from what we
anticipate. For these reasons, we caution you against relying on
forward-looking statements. All forward-looking statements included
in this press release are expressly qualified in their entirety by
the foregoing cautionary statements. These forward-looking
statements speak only as of the date hereof and, other than as
required by law, we undertake no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
About Thryv
Thryv Holdings, Inc. (NASDAQ:THRY) is the provider of the
leading do-it-all small business software platform that empowers
small businesses to modernize how they work. It offers small
business owners everything they need to communicate effectively,
manage their day-to-day operations, and grow — all in one place —
giving up to 20 hours back in their week. Thryv's customizable
platform features three centers: Thryv Command Center, a freemium
central communications hub, Business CenterSM and Marketing
CenterSM. Over 300,000 businesses globally use Thryv to connect
with local customers and take care of everything they do, start to
finish. For more information, visit thryv.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20240502687810/en/
Media Contact: Julie Murphy Thryv, Inc. 617.967.5426
julie.murphy@thryv.com
Investor Contact: Cameron Lessard Thryv, Inc.
214.773.7022 cameron.lessard@thryv.com
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