First Advantage Extends Existing Share Repurchase Authorization Through 2024
15 9월 2023 - 9:00PM
First Advantage Corporation (NASDAQ: FA), a leading global provider
of employment background screening and verification solutions,
today announced that its Board of Directors has approved a one-year
extension of its share repurchase authorization, extending the
existing $200 million authorization through December 31, 2024.
“The extension of our share repurchase program reflects our
confidence in the trajectory of our business as we continue to
execute against our strategic priorities,” said Scott Staples,
First Advantage’s Chief Executive Officer. “We continue to
generate strong cash flow and maintain a healthy balance sheet. We
remain committed to returning value to our shareholders through a
disciplined and balanced capital allocation approach, which
includes organic investments in our technology, strategic M&A,
share repurchases, and our recent one-time special dividend.”
Through September 14, 2023, the Company repurchased 8,811,494
shares of its common stock under its share repurchase program for
an aggregate of $116.3 million. The balance remaining on the share
repurchase authorization is $83.7 million. No shares will be
purchased from Silver Lake or its affiliates pursuant to this
repurchase authorization.
Stock repurchases may be effected through open market
repurchases at prevailing market prices (including through the use
of block trades and trading plans intended to qualify under Rule
10b5-1 under the Securities Exchange Act of 1934, as amended),
privately negotiated transactions, through other transactions in
accordance with applicable securities laws, or a combination of
these methods on such terms and in such amounts as the Company
deems appropriate. The Company is not obligated to repurchase any
specific number of shares, and the timing, manner, value, and
actual number of shares repurchased will depend on a variety of
factors, including the Company’s stock price and liquidity
requirements, other business considerations, and general market and
economic conditions. The Company may discontinue or modify
purchases without notice at any time. The Company plans to use its
existing cash to fund repurchases made under the share repurchase
program.
About First Advantage
First Advantage (NASDAQ: FA) is a leading global provider of
employment background screening and verification solutions. The
Company delivers innovative services and insights that help
customers manage risk and hire the best talent. Enabled by its
proprietary technology, First Advantage’s products help companies
protect their brands and provide safer environments for their
customers and their most important resources: employees,
contractors, contingent workers, tenants, and drivers.
Headquartered in Atlanta, Georgia, First Advantage performs screens
in over 200 countries and territories on behalf of its
approximately 33,000 customers. For more information about First
Advantage, visit the Company’s website at https://fadv.com/.
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements include all statements that are
not historical facts. The words “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “intend,” “expect” and
similar expressions are intended to identify forward-looking
statements. These forward-looking statements are subject to various
risks, uncertainties, assumptions, or changes in circumstances that
are difficult to predict or quantify, including those described
under the “Risk Factors” section in our Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, as such factors may be
updated from time to time in our periodic filings with the
Securities and Exchange Commission (SEC), which are accessible on
the SEC’s website at www.sec.gov. Any forward-looking statements
included in this press release or our SEC filings are made only as
of their respective dates, and we undertake no obligation to
publicly update or review any forward-looking statement, whether as
a result of new information, future developments, or otherwise,
except as required by law.
Investor Contact
Stephanie Gorman Vice President, Investor Relations
Investors@fadv.com (888) 314-9761
First Advantage (NASDAQ:FA)
과거 데이터 주식 차트
부터 4월(4) 2024 으로 5월(5) 2024
First Advantage (NASDAQ:FA)
과거 데이터 주식 차트
부터 5월(5) 2023 으로 5월(5) 2024