Triumph Financial Announces Completion of Accelerated Share Repurchase Transaction and New $50 Million Share Repurchase Authorization
04 Maggio 2023 - 2:30PM
Triumph Financial, Inc. (Nasdaq: TFIN) (“Triumph Financial” or the
“Company”) announced today that it has completed its accelerated
share repurchase transaction on April 28, 2023. On February 1,
2023, the Company entered into an accelerated share repurchase
agreement under which it repurchased 1,209,327 shares of its common
stock for a total cost of $70 million.
In connection with the completion of the accelerated share
repurchase transaction, on May 4, 2023, the Company’s board of
directors authorized a new share repurchase program whereby the
Company may repurchase up to an additional $50 million of its
outstanding common stock. The Company may repurchase shares from
time to time in open market transactions or through privately
negotiated transactions at the Company’s discretion. The amount,
timing, and nature of any share repurchases will be based on a
variety of factors, including the trading price of the Company’s
common stock, applicable securities laws restrictions, regulatory
limitations, as well as market and economic factors. The repurchase
program is authorized for a period of up to one year and does not
require the Company to repurchase any specific number of shares. At
the Company’s discretion, the repurchase program may be modified,
suspended or discontinued at any time.
This press release is for informational purposes only and does
not constitute an offer to sell or the solicitation to buy any
securities, nor shall there be any sale of securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction.
About Triumph Financial
Triumph Financial, Inc. (Nasdaq: TFIN) is a financial holding
company focused on payments, factoring and banking. Headquartered
in Dallas, Texas, its diversified portfolio of brands includes
TriumphPay, Triumph and TBK Bank.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Investors are cautioned
that such statements are predictions and that actual events or
results may differ materially. Triumph Financial’s expected
financial results or other plans are subject to a number of risks
and uncertainties. For a discussion of such risks and
uncertainties, which could cause actual results to differ from
those contained in the forward-looking statements, see “Risk
Factors” and the forward-looking statement disclosure contained in
the Company’s Annual Report on Form 10-K, filed with the Securities
and Exchange Commission on February 15, 2023. Forward-looking
statements speak only as of the date made and Triumph Financial
undertakes no duty to update the information.
Source: Triumph Financial, Inc.
Investor Relations:Luke WyseSenior Vice
President, Finance & Investor
Relationslwyse@tbkbank.com214-365-6936
Media Contact:Amanda TavackoliSenior Vice
President, Director of Corporate
Communicationatavackoli@tbkbank.com214-365-6930
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