Cannabis multistate operator Green Thumb Industries Inc.’s board authorized a $50 million share-repurchase program over the next 12 months.
The Chicago-based MSO is authorized to repurchase up to 10,573,860 shares.
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Under its previous repurchase program, which expired Sept. 10, the company repurchased 6.5 million shares for $73.3 million.
“This buyback program provides greater flexibility to use our cash reserves to repurchase more shares should the opportunity present itself,” Green Thumb founder, Chairman and CEO Ben Kovler said in a statement to investors.
The repurchase program begins Sept. 23 and expires Sept. 22, 2025.
Green Thumb isn’t obligated to purchase any shares if management determines it has a better use for its cash reserves.
“In light of recent refinancing, (we) remain open to
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