Mill City Announces Stock Repurchase Program
Mill City Ventures III, (NASDAQ:MCVT), a non-bank lender and specialty finance company, has announced a stock repurchase program of up to $2,000,000 for its common stock. The program, approved by the Company's Board of Directors, will be executed through a combination of open market repurchases, privately negotiated transactions, and other methods at the Company's discretion.
CEO Douglas M. Polinsky stated that this initiative reflects their commitment to maximizing shareholder value. The company plans to finance the repurchase with existing cash balances. The program can be suspended or discontinued at any time and does not obligate the company to acquire a specific amount of stock.
Mill City Ventures III, (NASDAQ:MCVT), un prestatore non bancario e società di finanza specializzata, ha annunciato un programma di riacquisto di azioni fino a $2,000,000 per le sue azioni ordinarie. Il programma, approvato dal Consiglio di Amministrazione della Società, sarà eseguito attraverso una combinazione di riacquisti nel mercato aperto, transazioni private negoziate e altri metodi a discrezione della Società.
Il CEO Douglas M. Polinsky ha dichiarato che questa iniziativa riflette il loro impegno a massimizzare il valore per gli azionisti. L'azienda prevede di finanziare il riacquisto con i saldi di cassa esistenti. Il programma può essere sospeso o interrotto in qualsiasi momento e non obbliga la società ad acquisire una quantità specifica di azioni.
Mill City Ventures III, (NASDAQ:MCVT), un prestamista no bancario y compañía de finanzas especializadas, ha anunciado un programa de recompra de acciones de hasta $2,000,000 para sus acciones comunes. El programa, aprobado por la Junta Directiva de la Compañía, se llevará a cabo a través de una combinación de recompra en el mercado abierto, transacciones privadas negociadas y otros métodos a criterio de la Compañía.
El CEO Douglas M. Polinsky afirmó que esta iniciativa refleja su compromiso de maximizar el valor para los accionistas. La compañía planea financiar la recompra con los saldos de efectivo existentes. El programa puede ser suspendido o discontinuado en cualquier momento y no obliga a la empresa a adquirir una cantidad específica de acciones.
밀 시티 벤처스 III, (NASDAQ:MCVT), 비은행 대출 기관이자 전문 금융 회사가 자사주 매입 프로그램을 $2,000,000까지 발표했습니다. 이 프로그램은 회사 이사회의 승인을 받아 이루어지며, 공개 시장 매입, 개인적으로 협상된 거래 및 기타 방법을 통해 회사의 재량으로 진행됩니다.
CEO 더글라스 M. 폴린스키는 이 이니셔티브가 주주 가치를 극대화하려는 그들의 의지를 반영한다고 밝혔습니다. 회사는 기존 현금을 사용하여 매입을 재정 지원할 계획입니다. 프로그램은 언제든지 중단되거나 종료될 수 있으며, 회사가 특정 수량의 주식을 매입해야 할 의무는 없습니다.
Mill City Ventures III, (NASDAQ:MCVT), un prêteur non bancaire et une société de finance spécialisée, a annoncé un programme de rachat d'actions d'un montant allant jusqu'à 2 000 000 $ pour ses actions ordinaires. Le programme, approuvé par le conseil d'administration de la société, sera exécuté par le biais d'une combinaison de rachats sur le marché ouvert, de transactions négociées en privé et d'autres méthodes à la discrétion de la société.
Le PDG Douglas M. Polinsky a déclaré que cette initiative reflète leur engagement à maximiser la valeur pour les actionnaires. La société prévoit de financer le rachat avec les soldes de trésorerie existants. Le programme peut être suspendu ou interrompu à tout moment et n'oblige pas la société à acquérir une quantité spécifique d'actions.
Mill City Ventures III, (NASDAQ:MCVT), ein Nichtbankkreditgeber und Spezialfinanzunternehmen, hat ein Aktienrückkaufprogramm von bis zu $2,000,000 für seine Stammaktien angekündigt. Das Programm, das von dem Vorstand des Unternehmens genehmigt wurde, wird durch eine Kombination aus Rückkäufen am offenen Markt, privat verhandelten Transaktionen und anderen Methoden nach Ermessen des Unternehmens durchgeführt.
CEO Douglas M. Polinsky erklärte, dass diese Initiative ihr Engagement zur Maximierung des Shareholder-Value widerspiegelt. Das Unternehmen plant, den Rückkauf mit bestehenden Geldbeständen zu finanzieren. Das Programm kann jederzeit ausgesetzt oder eingestellt werden und verpflichtet das Unternehmen nicht, eine bestimmte Menge an Aktien zu erwerben.
- Announcement of a $2 million stock repurchase program
- Potential increase in shareholder value through stock buyback
- Company has sufficient cash reserves to finance the repurchase
- Flexibility in repurchase methods, including open market and private transactions
- Management's confidence in the company's strong and growing business
- Reduction in cash reserves that could be used for other growth opportunities
- No guarantee of the actual amount of stock to be repurchased
- Potential impact on stock liquidity if significant amounts are repurchased
Insights
Mill City Ventures' announcement of a
The repurchase program signals management's confidence in the company's financial health and future prospects. It's particularly noteworthy that Mill City plans to finance the buyback with existing cash balances, indicating strong liquidity. This move could potentially increase earnings per share and return on equity by reducing the number of outstanding shares.
However, investors should consider the trade-offs. While the buyback may support the stock price in the short term, it also means less cash available for lending operations or other growth initiatives. For a non-bank lender, this could impact future revenue potential. The effectiveness of this capital allocation decision will depend on the company's growth trajectory and the perceived undervaluation of its stock.
Overall, while the buyback is a positive signal, its long-term impact will depend on Mill City's execution and the broader market conditions in the specialty finance sector.
MINNEAPOLIS, MN / ACCESSWIRE / October 16, 2024 / Mill City Ventures III, Ltd. ("Mill City" or the "Company") (NASDAQ:MCVT), a non-bank lender and specialty finance company, today announced the Company's Board of Directors has approved a stock repurchase program up to
"Our stock buyback initiative reflects our firm commitment to maximizing shareholder value in all strategies available to the Company," commented Chief Executive Officer Douglas M. Polinsky. "We believe our business is strong and growing as we move forward with new opportunities."
The Company expects to finance any repurchase with existing cash balances. The stock repurchase program may be suspended or discontinued any time and does not obligate the Company to acquire an amount of stock.
About Mill City Ventures III, Ltd.
Founded in 2007, Mill City Ventures III, Ltd., is a short-term non-bank lending and specialty finance company. More information about the company can be obtained at www.sec.gov or www.millcityventures3.com.
Contact:
Joseph A. Geraci
Chief Financial Officer
jg@millcityventures3.com
612-868-5815
SOURCE: Mill City Ventures III Ltd.
View the original press release on accesswire.com
FAQ
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