WOODLAND PARK, N.J.,
Sept. 22,
2023 /PRNewswire/ -- Anterix (NASDAQ: ATEX) today
announced that its Board of Directors has authorized a new share
repurchase program under which the Company may repurchase up to
$250 million of its outstanding
shares of common stock over a three-year period.
This Board authorization builds upon the Company's previous
share repurchase authorization, which was approved in September 2021 and expires September 29, 2023. Under that program,
approximately $34 million of
Anterix's stock has been repurchased, of which approximately
$11 million was spent in the current
quarter.
Share repurchases may be made utilizing a variety of methods,
including open market purchases, privately negotiated transactions,
and under Rule 10b5-1 trading plans at such times and in such
amounts as management deems appropriate.
The Company's ability to effect its share repurchases, and the
timing thereof, will depend on the proceeds from customer
contracts, the timing of which is unpredictable, as well as general
business and market conditions, the Company's capital position, and
other strategic considerations. The Company's repurchase program
may be suspended or discontinued at any time.
About Anterix
At Anterix, we are focused on delivering transformative private
broadband that enables the modernization of critical infrastructure
for the energy, transportation, logistics and other sectors of our
economy. As the largest holder of licensed spectrum in the 900 MHz
band (896-901/935-940 MHz) throughout the contiguous United States, plus Hawaii, Alaska, and Puerto
Rico, we are uniquely positioned to enable the private LTE
solutions that support secure, sustainable, resilient and
customer-controlled operations. www.anterix.com
Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking statements within the meaning of the federal
securities laws that involve risks and uncertainties.
Forward-looking statements include, without limitation, any
statement that may predict, forecast, indicate or imply future
events or achievements such as statements in this press release
related to Anterix's business or financial results or outlook.
Actual events or results may differ materially from those
contemplated in this press release. Forward-looking statements
speak only as of the date they are made and readers are cautioned
not to put undue reliance on such statements, as they are subject
to a number of risks and uncertainties that could cause Anterix's
actual future results to differ materially from results indicated
in the forward-looking statement. Such statements are based on
assumptions that could cause actual results to differ materially
from those in the forward-looking statements, including: (i)
Anterix's ability to enter into new agreements with target
customers, (ii) the timing of payments under existing customer
agreements, (iii) Anterix's ability to clear 900 MHz Broadband
Spectrum on a timely basis and on commercially reasonable terms;
and (iv) Anterix's ability to qualify for and timely secure
broadband licenses. Actual events or results may differ materially
from those contemplated in this press release. Anterix's filings
with the Securities and Exchange Commission ("SEC"), which you may
obtain for free at the SEC's website at http://www.sec.gov, discuss
some of the important risk factors that may affect the company's
financial outlook, business, results of operations and financial
condition. Anterix undertakes no obligation to update publicly or
revise any forward-looking statements contained herein.
Shareholder Contact
Natasha Vecchiarelli
Vice President, Investor Relations & Corporate
Communications
Anterix
973-531-4397
nvecchiarelli@anterix.com
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SOURCE Anterix Inc.