Ascent Announces Board Authorization of Expanded Stock Purchase Program
Ascent Industries Co. (ACNT) has announced an expanded stock repurchase program authorized by its Board of Directors. The program allows for the repurchase of up to 1,000,000 shares, representing approximately 10% of outstanding common stock, over the next 24 months through open market or private transactions.
CEO Bryan Kitchen emphasized that share repurchases are a key part of their capital allocation strategy, stating that current share valuation substantially undervalues the company given its momentum, organic growth potential, and strengthening balance sheet. The purchases will be funded from available working capital, with repurchased shares either returning to authorized but unissued status or held in treasury.
As of February 18, 2025, ACNT had 10,076,025 shares outstanding. The company maintains discretion over the timing and amount of repurchases, with no guarantee of the exact number of shares to be repurchased.
Ascent Industries Co. (ACNT) ha annunciato un programma di riacquisto di azioni ampliato autorizzato dal suo Consiglio di Amministrazione. Il programma consente il riacquisto di fino a 1.000.000 azioni, che rappresentano circa il 10% delle azioni ordinarie in circolazione, nei prossimi 24 mesi tramite transazioni sul mercato aperto o private.
Il CEO Bryan Kitchen ha sottolineato che i riacquisti di azioni sono una parte fondamentale della loro strategia di allocazione del capitale, affermando che la valutazione attuale delle azioni sottovaluta sostanzialmente l'azienda, considerando il suo slancio, il potenziale di crescita organica e il rafforzamento del bilancio. Gli acquisti saranno finanziati con il capitale di lavoro disponibile, con le azioni riacquistate che torneranno allo stato autorizzato ma non emesso o saranno detenute in tesoreria.
Al 18 febbraio 2025, ACNT aveva 10.076.025 azioni in circolazione. L'azienda mantiene la discrezione riguardo al momento e all'importo dei riacquisti, senza garanzia sul numero esatto di azioni da riacquistare.
Ascent Industries Co. (ACNT) ha anunciado un programa de recompra de acciones ampliado autorizado por su Junta Directiva. El programa permite la recompra de hasta 1.000.000 acciones, que representan aproximadamente el 10% de las acciones ordinarias en circulación, durante los próximos 24 meses a través de transacciones en el mercado abierto o privadas.
El CEO Bryan Kitchen enfatizó que las recompras de acciones son una parte clave de su estrategia de asignación de capital, afirmando que la valoración actual de las acciones subestima sustancialmente a la empresa dado su impulso, potencial de crecimiento orgánico y fortalecimiento del balance. Las compras se financiarán con el capital de trabajo disponible, y las acciones recompradas volverán al estado autorizado pero no emitido o se mantendrán en tesorería.
Al 18 de febrero de 2025, ACNT tenía 10.076.025 acciones en circulación. La empresa mantiene la discreción sobre el momento y la cantidad de recompras, sin garantía del número exacto de acciones a recomprar.
Ascent Industries Co. (ACNT)는 이사회에서 승인한 확대된 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 향후 24개월 동안 공개 시장 또는 개인 거래를 통해 1,000,000주까지 매입할 수 있도록 하며, 이는 발행된 보통주 약 10%에 해당합니다.
CEO 브라이언 키친은 자사주 매입이 자본 배분 전략의 핵심 부분이라고 강조하며, 현재의 주식 평가가 회사의 모멘텀, 유기적 성장 잠재력 및 재무 상태 강화에 비해 상당히 저평가되고 있다고 말했습니다. 매입은 사용 가능한 운영 자본으로 자금을 조달하며, 매입된 주식은 승인되었지만 발행되지 않은 상태로 돌아가거나 재무에 보유됩니다.
2025년 2월 18일 기준으로 ACNT는 10,076,025주가 발행되었습니다. 회사는 매입 시기와 수량에 대한 재량권을 가지며, 매입할 주식의 정확한 수에 대한 보장은 없습니다.
Ascent Industries Co. (ACNT) a annoncé un programme de rachat d'actions élargi autorisé par son conseil d'administration. Ce programme permet le rachat de jusqu'à 1.000.000 actions, représentant environ 10 % des actions ordinaires en circulation, au cours des 24 prochains mois par le biais de transactions sur le marché libre ou privées.
Le PDG Bryan Kitchen a souligné que les rachats d'actions sont une partie clé de leur stratégie d'allocation de capital, affirmant que la valorisation actuelle des actions sous-estime considérablement l'entreprise compte tenu de son élan, de son potentiel de croissance organique et du renforcement de son bilan. Les achats seront financés par le capital de travail disponible, les actions rachetées retournant soit à un statut autorisé mais non émis, soit étant conservées dans la trésorerie.
Au 18 février 2025, ACNT avait 10.076.025 actions en circulation. L'entreprise conserve son pouvoir discrétionnaire sur le moment et le montant des rachats, sans garantie sur le nombre exact d'actions à racheter.
Ascent Industries Co. (ACNT) hat ein erweitertes Aktienrückkaufprogramm angekündigt, das von seinem Vorstand genehmigt wurde. Das Programm erlaubt den Rückkauf von bis zu 1.000.000 Aktien, was etwa 10% der ausstehenden Stammaktien entspricht, über die nächsten 24 Monate durch Transaktionen am offenen Markt oder private Geschäfte.
CEO Bryan Kitchen betonte, dass Aktienrückkäufe ein wesentlicher Bestandteil ihrer Kapitalallokationsstrategie sind, und erklärte, dass die aktuelle Aktienbewertung das Unternehmen angesichts seines Schwungs, des organischen Wachstumspotenzials und der Stärkung der Bilanz erheblich unterbewertet. Die Käufe werden aus verfügbarem Betriebskapital finanziert, wobei die zurückgekauften Aktien entweder in den genehmigten, aber nicht ausgegebenen Status zurückkehren oder im Treasury gehalten werden.
Am 18. Februar 2025 hatte ACNT 10.076.025 Aktien ausstehend. Das Unternehmen behält sich das Ermessen über den Zeitpunkt und die Menge der Rückkäufe vor, ohne Garantie für die genaue Anzahl der zurückzukaufenden Aktien.
- Authorization to repurchase up to 1,000,000 shares (10% of outstanding shares)
- Strong working capital position to fund the buyback program
- Management's confidence in company's undervaluation
- Strengthening balance sheet reported by management
- No guarantee on the number of shares to be actually repurchased
- Program may be discontinued at management's discretion
Insights
The authorization of a 1 million share repurchase program, representing 10% of Ascent's outstanding shares, signals strong management confidence in the company's intrinsic value and future prospects. With a current market cap of
Several key implications emerge from this announcement:
- The size and scope of the program (10% of outstanding shares) is substantial for a small-cap company, indicating robust confidence in financial sustainability
- The 24-month timeframe provides flexibility to execute purchases opportunistically, rather than forcing aggressive near-term buying
- Funding through working capital suggests healthy cash flow generation and balance sheet strength
- The program may enhance earnings per share and return on equity metrics through float reduction
However, investors should note that authorization doesn't guarantee execution - management maintains discretion over timing and volume. The program's success will depend on maintaining sufficient working capital for operations while executing repurchases at attractive valuations. The extended 24-month window suggests a measured approach rather than aggressive near-term buying pressure.
Market impact could be meaningful given ACNT's relatively small float. Increased buying activity may provide price support and reduce volatility, though trading volume could amplify price movements during active repurchase periods.
Bryan Kitchen, President and CEO, said, “Share repurchases are a key part of our capital allocation strategy. The Board’s expanded authorization is particularly timely given that we believe our shares’ current valuation substantially undervalues the Company based on our momentum, organic growth runway, and strengthening balance sheet. At our current valuation, repurchasing our stock continues to be a prudent investment that will not conflict with our growth objectives.”
The shares will be purchased from time to time at prevailing market prices, through open market or privately negotiated transactions, depending on market conditions. Under the program, the purchases will be funded from available working capital, and the repurchased shares will be returned to the status of authorized, but unissued shares of common stock or held in treasury. There is no guarantee as to the exact number of shares that will be repurchased by the Company, and the Company may discontinue purchases at any time that management determines additional purchases are not warranted. As of February 18, 2025, the Company had 10,076,025 shares outstanding.
About Ascent Industries Co.
Ascent Industries Co. (Nasdaq: ACNT) is a company that engages in a number of diverse business activities including the production of specialty chemicals and industrial tubular products. For more information about Ascent, please visit its website at www.ascentco.com.
Forward-Looking Statements
This press release may include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and other applicable federal securities laws. All statements that are not historical facts are forward-looking statements. Forward looking statements can be identified through the use of words such as "estimate," "project," "intend," "expect," "believe," "should," "anticipate," "hope," "optimistic," "plan," "outlook," "should," "could," "may" and similar expressions. The forward-looking statements are subject to certain risks and uncertainties which could cause actual results to differ materially from historical results or those anticipated. Readers are cautioned not to place undue reliance on these forward-looking statements and to review the risks as set forth in more detail in Ascent Industries Co.’s Securities and Exchange Commission filings, including our Annual Report on Form 10-K, which filings are available from the SEC or on our website. Ascent Industries Co. assumes no obligation to update any forward-looking information included in this release.
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Company Contact
Ryan Kavalauskas
Chief Financial Officer
1-630-884-9181
Investor Relations
Cody Slach and Cody Cree
Gateway Group, Inc.
1-949-574-3860
ACNT@gateway-grp.com
Source: Ascent Industries Co.
FAQ
How many shares can Ascent Industries (ACNT) repurchase under the new program?
What is the timeline for ACNT's stock repurchase program?
How will ACNT fund the share repurchase program?
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What happens to the shares that ACNT repurchases?
