Interlink Electronics, Inc. (NASDAQ: LINK) Introduces Stock Buyback Program to Drive Long-Term Shareholder Value and Leverage Strong Financial Position
Interlink Electronics, Inc. (NASDAQ: LINK), a leading global technology partner specializing in human-machine interface devices and cutting-edge technologies, has unveiled a new stock buyback program. The company's board of directors has approved the buyback of up to 100,000 shares of Interlink's common stock. This strategic move aims to enhance long-term shareholder value and capitalize on the company's robust financial position.
Steven N. Bronson, the Chairman, President, and CEO of Interlink Electronics, expressed the company's commitment to creating long-term value for shareholders through this stock buyback initiative. Bronson highlighted the strength of Interlink's balance sheet, underscoring the strategic opportunity this buyback program represents. He believes that Interlink's current market valuation does not fully reflect the potential of its businesses, including expansion opportunities through acquisitions and organic growth.
The share buyback program will be effective from May 17, 2023, until May 15, 2024, or when the limit of 100,000 shares has been reached. Interlink Electronics intends to utilize various methods for buybacks, such as open market and negotiated purchases, ensuring flexibility in executing the program. The company will adhere to the Securities and Exchange Commission's Rule 10b-18, considering market conditions, liquidity, cash flow, legal requirements, and other factors.
Interlink Electronics retains sole discretion over the specific prices, number of shares, and timing of purchase transactions throughout the twelve-month period. This discretionary authority allows the company to assess market dynamics and make informed decisions regarding the buyback program. It is important to note that the program does not impose any obligation on Interlink Electronics to acquire a predetermined amount of common stock. Furthermore, the program can be suspended or discontinued, particularly if the company is deemed to be making an acquisition of its own shares under the Securities Exchange Act of 1934.
Interlink Electronics expects to finance the stock buybacks using existing cash balances, ensuring minimal impact on its capital levels. By utilizing readily available resources, the company can execute the program without compromising its financial stability or future growth prospects.
Members of LevelFields received the alert of this event on May 17, 9:25 AM ET
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