FRPT to repurchase up to $150M in shares using cash reserves or future borrowings, effective immediately.
Freshpet Inc. announced its board has authorized a $150M share repurchase plan for its common stock. The program is effective immediately and may be funded through existing cash, operational cash flow, or future borrowings.
The company did not disclose a timeline for the repurchases. Freshpet’s last reported cash position stood at $132M as of its latest quarterly filing. No prior buyback programs were announced in the past year.
Shares of FRPT showed minimal movement in after-hours trading following the announcement.