- Mannatech Inc MTEX Board of Directors has approved a share repurchase program to acquire up to $1.5 million of its outstanding shares.
- The authorized repurchases will be made from time to time in the open market through block trades or privately negotiated transactions.
- The timing, volume, and nature of share repurchases will be at the discretion of management.
- The repurchase program begins on September 19, 2022, and ends on the earlier of September 18, 2023, or reaching the goal.
- The company intends to finance the repurchases with available cash.
- Mannatech held ~$22 million in cash and equivalents as of June 30, 2022.
- Price Action: MTEX shares are trading higher by 5.75% at $18.40 on the last check Tuesday.
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