Stock repurchases under this program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate. The timing and actual number of shares repurchased will depend on a variety of factors, including price, corporate and regulatory requirements, alternative investment opportunities and other market conditions. The stock repurchase program does not have an expiration date and may be limited or terminated at any time without prior notice. Repurchased shares will be returned to the status of authorized but un-issued shares of common stock.
"We believe Advent's stock repurchase program enhances shareholder value,â said Stephanie DiMarco, Adventâs founder and CEO. âThe Board's actions, as well as our decision to secure a revolving credit facility based on the strength of the Companyâs recurring revenue streams, are a reflection of the Company's continued success and our belief in the long-term prospects for future growth.â