Hydrafacial Brand Owner Beauty Health Plans To Initiate Stock Repurchase Program Next Week

Beauty Health Co SKIN plans to initiate a stock repurchase program on September 26, 2023, through Rule 10b5-1. 

The action follows the recent authorization by the company's Board of Directors to repurchase up to $100 million of its common stock. The company intends to implement the trading plan in Q3 2023.

The extent to which the company repurchases shares, and the timing of such repurchases, will depend upon a variety of factors as determined by the company's management.

Beauty Health expects to fund its share repurchases with existing cash on hand and is not obligated under the program to acquire any particular amount of stock. 

The company held $549.7 million in cash and equivalents as of June 30, 2023.

Also Read: Beauty Health Shares Are Getting A Makeover - Here's Why

Price Action: SKIN shares are trading higher by 3.09% at $6.24 on the last check Wednesday.