Outbrain Board of Directors Authorizes Share Repurchase Program

Rhea-AI Summary

Outbrain Inc. (Nasdaq: OB) announced a new stock repurchase program approved by its Board of Directors, allowing the company to purchase up to $30 million of its common stock. The timing and quantity of shares repurchased will depend on factors like market conditions. Purchases may occur through open market transactions or private negotiations. The program can be commenced, suspended, or terminated at the discretion of the company without prior notice.

Positive

• Authorization to repurchase up to $30 million in stock enhances shareholder value.
• Flexibility in repurchase timing may indicate confidence in future performance.

Negative

• None.

NEW YORK, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Outbrain Inc. (Nasdaq: OB), a leading recommendation platform for the open web, today announced the Company’s Board of Directors approved a new stock repurchase program under which the Company is authorized to purchase up to $30 million of the Company’s common stock with no requirement to purchase any minimum number of shares.

The manner, timing, and actual number of shares repurchased under the program will depend on a variety of factors, including price, general business and market conditions, and other investment opportunities. Shares may be repurchased through privately negotiated transactions, or open market purchases, including through the use of trading plans intended to qualify under Rule 10b5-1 under the Exchange Act. The repurchase program may be commenced, suspended or terminated at any time by the Company at its discretion without prior notice.

Cautionary Statement on Forward Looking Language

This press release contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to possible or assumed future results of our business, financial condition, results of operations, liquidity, plans and objectives. You can generally identify forward-looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “could,” “intends,” “guidance,” “outlook,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these terms or other similar expressions that concern our expectations, strategy, plans or intentions. We have based these forward-looking statements largely on our current expectations and projections regarding future events and trends that we believe may affect our business, financial condition and results of operations. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors, including but not limited to: the risks described in the section entitled “Risk Factors” and elsewhere in the Annual Report on Form 10-K filed for the year ended December 31, 2021 and in subsequent reports filed with the SEC. Accordingly, you should not rely upon forward-looking statements as predictions of future events. We cannot assure you that the results, events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results, events or circumstances could differ materially from those projected in the forward-looking statements. We undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. We do not assume any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

About Outbrain

Outbrain (Nasdaq: OB) is a leading recommendation platform for the open web. Our technology enables 10 billion daily recommendations to consumers across more than 7,000 online properties and connects advertisers to these audiences to grow their business. Founded in 2006, Outbrain is headquartered in New York with offices in 17 cities worldwide.

Media Contact
press@outbrain.com

Investor Relations Contact
IR@outbrain.com
(332) 205-8999 

FAQ

What is the purpose of Outbrain's stock repurchase program?

The stock repurchase program aims to enhance shareholder value by repurchasing up to $30 million of common stock.

When was Outbrain's stock repurchase program announced?

The program was announced on December 15, 2022.

How will Outbrain decide the number of shares to repurchase?

The number of shares repurchased will depend on various factors, including market conditions and price.

What is the maximum amount Outbrain can spend on the repurchase program?

Outbrain can spend up to $30 million on the stock repurchase program.

Can Outbrain terminate the stock repurchase program?

Yes, Outbrain can commence, suspend, or terminate the program at its discretion without prior notice.