Bowman Announces Authorization of New Share Repurchase Program
17 Novembre 2023 - 10:05PM
Business Wire
Bowman Consulting Group Ltd. (Nasdaq: BWMN) (“Bowman” or the
“Company”), a national engineering services firm supporting owners
and developers of the built environment, today announced the
authorization by its Board of Directors of a new $10 million share
repurchase program under which the Company may repurchase up to $10
million of Bowman’s common stock. The authorization is effective
from November 17, 2023, through November 16, 2024. The Company’s
prior $10 million authorization expired on November 10, 2023, with
$9.3 million remaining available for repurchase.
The execution of the repurchase program is expected to be
consistent with the Company’s strategic initiatives which
prioritize investments in organic and acquisitive growth. The
timing and amount of any share repurchases will be determined by
management at its discretion based on several factors including
share price, market conditions and capital allocation priorities.
Shares may be repurchased from time to time through open market
purchases, in privately negotiated transactions or by other means,
including the use of trading plans intended to qualify under Rule
10b5-1 under the Securities Exchange Act of 1934, as amended, in
accordance with applicable securities laws and other restrictions.
The share repurchase program does not obligate Bowman to acquire a
specific number of shares of common stock and may be suspended,
modified, or discontinued at any time without notice.
About Bowman Consulting Group Ltd.
Headquartered in Reston, Virginia, Bowman is a national
engineering services firm delivering infrastructure solutions to
customers who own, develop, and maintain the built environment.
With over 2,000 employees and more than 80 offices throughout the
United States, Bowman provides a variety of planning, engineering,
geospatial, construction management, commissioning, environmental
consulting, land procurement and other technical services to
customers operating in a diverse set of regulated end markets.
Bowman trades on the Nasdaq under the symbol BWMN. For more
information, visit bowman.com or investors.bowman.com.
Forward-Looking Statements
This press release may contain “forward-looking statements”
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. All statements
contained in this press release other than statements of historical
fact, including statements regarding the date of commencement and
expiry of the share repurchase program, the amount of shares to be
repurchased, the methods of such repurchases, if any, pursuant to
the share repurchase program and the anticipated execution of the
repurchase program consistent with the Company’s strategic
initiatives described above are forward-looking statements and
represent our views as of the date of this press release. The words
“anticipate”, “believe”, “continue”, “estimate”, “expect”,
“intend”, “may”, “will”, “goal” and similar expressions are
intended to identify forward-looking statements. We have based
these forward-looking statements on our current expectations and
projections about future events and financial trends that we
believe may affect our financial condition, results of operations,
business strategy, short-term and long-term business operations and
objectives and financial needs, These forward-looking statements
are subject to several assumptions and risks and uncertainties,
many of which involve factors or circumstances that are beyond our
control that could affect our financial results. The Company
cautions that these statements are qualified by important factors
that could cause actual results to differ materially from those
reflected by the forward-looking statements contained in this news
release. Such factors include: (a) changes in demand from the local
and state government and private clients that we serve; (b) general
economic conditions, nationally and globally, and their effect on
the market for our services; (c) competitive pressures and trends
in our industry and our ability to successfully compete with our
competitors; (d) changes in laws, regulations, or policies; and (e)
the “Risk Factors” set forth in the Company’s most recent SEC
filings. Considering these risks, uncertainties and assumptions,
the future events and trends discussed in this press release may
not occur and actual results could differ materially and adversely
from those anticipates or implied in any forward-looking
statements. Except as required by law, we are under no obligation
to update these forward-looking statements after the date of this
press release, or to update the reasons if actual results differ
materially from those anticipated in the forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20231117391814/en/
Investor Relations Contacts: Bruce Labovitz ir@bowman.com (703)
787-3403
Larry Clark lclark@bowman.com (310) 622-8223
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