“Reflecting our continuing commitment to building shareholder value,
this new stock repurchase program provides us with additional
flexibility to utilize capital meaningfully and productively,” said
The number of shares repurchased and the timing of repurchases will
depend on a number of factors, including, but not limited to, share
price, trading volume and general market conditions, along with Luna’s
working capital requirements, general business conditions and other
factors. Under its share repurchase program, the company may, from time
to time, purchase shares of its common stock through various means,
including open market transactions, privately negotiated transactions or
tender offers. Open market repurchases of common stock may be made
pursuant to trading plans established pursuant to Rule 10b5-1 under the
Securities Exchange Act of 1934, which would permit common stock to be
repurchased at a time that Luna might otherwise be precluded from doing
so under insider trading laws. The
The stock repurchase program will be funded using Luna’s working
capital. As of
Luna had approximately 27.7 million shares of common stock outstanding
as of
About Luna:
Forward-Looking Statements:
The statements in this release that are not historical facts constitute
“forward-looking statements” made pursuant to the safe harbor provision
of the Private Securities Litigation Reform Act of 1995 that involve
risks and uncertainties. These statements include the company’s
expectations regarding the timing, amount, methods and funding sources
of future repurchases of its common stock. Management cautions the
reader that these forward-looking statements are only predictions and
are subject to a number of both known and unknown risks and
uncertainties, and actual results may differ materially from those
expressed or implied by these forward-looking statements as a result of
a number of factors. These factors include, without limitation, changes
in Luna’s stock price, the trading volume of the company’s stock, the
nature of other investment opportunities presented to the company from
time to time, the company’s cash flows from operations, general economic
conditions, and those risks and uncertainties set forth in the company’s
periodic reports and other filings with the
View source version on businesswire.com: http://www.businesswire.com/news/home/20170920006251/en/
Source:
Luna Innovations Incorporated
Dale Messick, CFO, 1-540-769-8400
IR@lunainc.com