EverCommerce boosts share buyback plan by $25M, lifting total to $325M
EverCommerce Inc., a software solutions provider for small and medium-sized businesses, announced today a $25 million increase to its share repurchase program. The company's Board of Directors approved the expansion, raising the total authorization to $325 million. Previously, the program was authorized for $300 million. This increase extends through December 31, 2027.
The company plans to fund the repurchases using its cash reserves. EverCommerce's platforms cater to industries such as home services, health, and wellness, serving over 745,000 customers globally. The company may execute the repurchases through open market transactions complying with Rule 10b-18 or through negotiated off-market deals.
The program permits open market repurchases to be facilitated via Rule 10b5-1 plans. It is essential to note that EverCommerce is not obligated to acquire a specific amount of common stock and can modify, suspend, or discontinue the program at its discretion.
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