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CapStar Announces $8 Million Share Repurchase Program and the Registration of 3,652,094 shares of Common Stock
“Although the primary use of our capital will continue to be support of the Company’s organic growth opportunities and strategic M&A activities, we believe the repurchase program will be another tool by which we can enhance shareholder value,” said
Repurchases of the Company’s common stock will be made in accordance with applicable laws and may be made at management’s discretion from time to time in the open market, through privately negotiated transactions or otherwise. The repurchase program will remain in effect until
The share repurchase program may be extended, modified, amended, suspended or discontinued at any time at the Company’s discretion and does not commit the Company to repurchase shares of its common stock. The actual timing of any repurchases and the number and price of the shares to be repurchased under the program will be determined by the Company at its discretion and will depend on a number of factors, including the performance of the Company’s share price, the Company’s ongoing capital planning considerations, general market and other conditions, applicable legal requirements and compliance with the terms of the Company’s outstanding indebtedness.
Additionally, the Company announced today that its board of directors has authorized the filing of a registration statement on Form S-3 to register 3,652,094 shares of the Company’s common stock. The registration statement is being filed pursuant to an agreement between the Company and certain shareholders who invested in the Company at its founding in 2008. As of the date of this press release, the Company has not been advised as to any definitive plan of distribution for the shares of common stock to which the registration statement relates.
No Offer or Sale
A registration statement relating to these securities has been filed with the
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Exchange Act of 1934, as amended, including with respect to the terms, timing, logistics and conditions of the repurchase program, the Company’s compliance with applicable law in connection with the administration of the repurchase program, the Company’s utilization of the repurchase program, the timing of filing and effectiveness of the registration statement on Form S-3, and the use and impact of the registration statement on Form S-3. Forward-looking statements are subject to many risks and uncertainties, including, but not limited to, the risks detailed from time to time in the Company’s periodic and current reports filed with the
Source: CapStar Financial Holdings, Inc.