Ibotta Approves $100 Million Stock Buyback Program
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Ibotta Announces $100 Million Share Repurchase Program
Ibotta, Inc. (NYSE: IBTA), a leading technology company specializing in digital promotions and performance marketing solutions, has recently disclosed the approval of a significant share repurchase program. The Board of Directors has authorized the purchase of up to $100 million worth of the Company's Class A common stock. This initiative aims to enhance shareholder value and reflects the Company's confidence in its growth potential.
Details of the Share Repurchase Program
The Share Repurchase Program has been designed without an expiration date, allowing flexibility for the management team to execute repurchases as needed. Shares may be repurchased in the open market or through privately negotiated transactions, subject to applicable market conditions, legal requirements, and other relevant considerations. Open market repurchases will adhere to the guidelines set forth by Rule 10b-18 under the Securities Exchange Act of 1934, ensuring compliance with regulatory frameworks.
Mechanisms of Share Acquisition
In addition to standard purchases, Ibotta may utilize Rule 10b5-1 plans, which enable scheduled share repurchases, to assist in the execution of this program. While the Company has the authority to repurchase shares, it is not required to acquire a specific number of shares, retaining the option to suspend or terminate the program as it sees fit. Factors influencing the timing and volume of repurchases will include market conditions, share pricing, and the Company's broader investment strategies.
About Ibotta
Founded with the vision of revolutionizing the promotional landscape, Ibotta is committed to delivering value to its partners and consumers alike. As the predominant provider of digital promotions for Consumer Packaged Goods brands, Ibotta connects to over 200 million consumers via its extensive Ibotta Performance Network (IPN). Marketers utilizing the IPN benefit greatly by influencing consumer purchasing decisions, while paying only upon successful sales outcomes.
Consumer Engagement and Earnings
Since its inception in 2012, American shoppers have collectively earned more than $2 billion through the Ibotta Performance Network, showcasing its effectiveness and popularity among consumers. As a testament to its workplace culture, Ibotta has received accolades from reputable organizations like The Denver Post and Inc. Magazine, highlighting its commitment to fostering a positive work environment.
Contact Information
For further information, interested parties may reach out through the following contacts:
Corporate Communications
Hilary O’Byrne, href="mailto:hilary.obyrne@ibotta.com" rel="nofollow">hilary.obyrne@ibotta.com
Investor Relations
Shalin Patel, href="mailto:shalin.patel@ibotta.com" rel="nofollow">shalin.patel@ibotta.com
Frequently Asked Questions
What is Ibotta's new share repurchase program?
Ibotta has announced a plan to repurchase up to $100 million of its Class A common stock to enhance shareholder value.
Are there any expiration dates for the program?
No, the Share Repurchase Program has no specified expiration date, allowing flexibility in executing purchases.
How will the repurchases be conducted?
Repurchases may be conducted through open market transactions or privately negotiated deals, depending on market conditions.
What is the purpose of the share repurchase program?
The program aims to improve shareholder value and demonstrate the Company’s confidence in its business prospects.
How can I contact Ibotta for further information?
For inquiries, you can reach out to Corporate Communications or Investor Relations via the provided email addresses.
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