Spruce Power Announces $50 Million Stock Repurchase Plan To Strengthen Market Position

Spruce Power Holding Corporation announced that its board of directors has approved a new share repurchase program allowing the company to buy back up to $50 million of its common stock by May 15, 2027. This program will start after the current share repurchase program ends on May 15, 2025. The board believes this new program will give Spruce the flexibility to return value to shareholders when the opportunity arises. The share repurchase program permits Spruce to buy shares through various methods, including open market transactions, private deals, Rule 10b5-1 trading plans, Rule 10b-18 trading plans, and other means.

However, the company is not required to buy back a specific number of shares or spend a set amount, and it can stop the program at any time. The decision on when and how many shares to buy, and at what price, will be made by Spruce’s management based on factors like the stock price, overall market and economic conditions, and other available options. Under its previous share repurchase program, which ran from May 15, 2023, to May 12, 2025, Spruce bought back a total of 1,870,827 shares at an average price of about $4.33 per share, including transaction costs.