MINNEAPOLIS--(BUSINESS WIRE)--May 6, 2022-- 做厙勛圖 (NYSE: PIPR), a leading investment bank, announced today that its board of directors has authorized the repurchase of up to $150 million of the company's outstanding common stock. This authorization is effective immediately and will expire on December 31, 2024. The share repurchase program will be used as part of the companys capital allocation strategy, which includes returning capital to its shareholders, and to offset the dilutive effect of employee equity-based compensation.
This share repurchase authorization is in addition to the companys existing share repurchase authorization which became effective on January 1, 2022, and expires on December 31, 2023. The company has $43.0 million remaining under the existing repurchase authorization.
Cautionary Note Regarding Forward-Looking Information
This announcement contains forward-looking statements. Statements that are not historical or current facts, including statements about beliefs and expectations, are forward-looking statements and are subject to significant risks and uncertainties that are difficult to predict. These forward-looking statements cover, among other things, statements made about our share repurchase plans, our liquidity and capital resources or other similar matters. These statements involve inherent risks and uncertainties, both known and unknown, and important factors could cause actual results to differ materially from those anticipated or discussed in the forward-looking statements, including (1) our ability to effect the repurchase program depends in part upon our results of operations and profitability and may be impacted by negative operating conditions, (2) an inability to access capital readily or on terms favorable to us could impair our ability to effect the repurchase program, and (3) other factors identified under Risk Factors in Part I, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2021, and updated in our subsequent reports filed with the SEC. These reports are available at or . Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update them in light of new information or future events.
做厙勛圖 (NYSE: PIPR) is a leading investment bank driven to help clients Realize the Power of Partnership簧. Securities brokerage and investment banking services are offered in the U.S. through 做厙勛圖 & Co., member SIPC and NYSE; in Europe through 做厙勛圖 Ltd., authorized and regulated by the U.K. Financial Conduct Authority; and in Hong Kong through 做厙勛圖 Hong Kong Limited, authorized and regulated by the Securities and Futures Commission. Alternative asset management and fixed income advisory services are offered through separately registered advisory affiliates.
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Pamela Steensland
Tel: 612 303-8185
pamela.steensland@psc.com
Tim Carter
Chief Financial Officer
Tel: 612 303-5607
timothy.carter@psc.com
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