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CapStar Announces Expansion of Share Repurchase Program and Ability to Conduct Privately Negotiated Transactions
Repurchases of the Company’s common stock will continue to be made in accordance with applicable laws and may be made from time to time in the open market, through privately negotiated transactions or otherwise. The repurchase program will remain in effect until the maximum authorized dollar amount of shares of common stock has been repurchased. The Company intends to fund the expanded repurchase program with a combination of cash on hand and cash generated from operations.
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’s board of directors authorized the Company to repurchase shares in privately-negotiated transactions with directors, officers and shareholders of the Company.
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 Securities 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 and the Company’s utilization of the repurchase program. 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
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Source: CapStar Financial Holdings, Inc.