Cardlytics Announces Stock Repurchase Program
Cardlytics (NASDAQ: CDLX) has announced a repurchase program for up to $40 million of its Common Stock, approved by the Board of Directors. The CFO stated that this initiative represents a strategic investment aimed at enhancing shareholder value. The buyback will occur on the open market or through negotiated transactions and is expected to continue until the end of the fiscal year, subject to Board discretion. This move signals confidence in the company's market position and underscores its commitment to returning value to shareholders.
- Repurchase program of $40 million aimed at enhancing shareholder value.
- Signals confidence in the company's market position and future prospects.
- None.
ATLANTA, May 10, 2022 (GLOBE NEWSWIRE) -- Cardlytics (NASDAQ: CDLX) (the “Company”), a digital advertising platform, today announced that its Board of Directors has approved the repurchase of up to an aggregate of
“We believe that the repurchase program is a good investment of available funds and underscores our commitment to enhancing shareholder value,” said Cardlytics CFO, Andy Christiansen.
The repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market. The repurchase program is expected to continue through the end of the current fiscal year unless extended or shortened by the Board of Directors.
The repurchase program does not obligate the Company to acquire any particular amount of ordinary shares, and the repurchase program may be suspended or discontinued at any time at the Company’s discretion.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, Detroit and Visakhapatnam. Learn more at www.cardlytics.com.
Investor Relations:
Robert Robinson
Corporate Development & IR
ir@cardlytics.com
FAQ
What is the purpose of Cardlytics' $40 million stock buyback?
When will Cardlytics' stock repurchase program take place?
How will the stock repurchases be conducted?
Is the stock buyback program mandatory for Cardlytics?
What impact does the buyback have on CDLX stock?
