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An announcement from DIRTT Environmental Solutions ( (TSE:DRT) ) is now available.
DIRTT Environmental Solutions announced a share repurchase agreement to buy back and cancel 3,920,844 common shares from NGEN III, LP, at a discounted price, leaving 189,643,903 shares outstanding post-transaction. This move is financed using cash reserves and is part of DIRTT’s strategic initiatives to optimize its capital structure, with the transaction being assessed and endorsed by an independent Special Committee and supported by a fairness opinion from KPMG LLP, reflecting DIRTT’s commitment to its shareholders and strategic goals.
More about DIRTT Environmental Solutions
DIRTT Environmental Solutions is a leader in industrialized construction, providing a system of physical products and digital tools that help organizations build high-performing, adaptable interior environments. The company operates in various markets including workplace, healthcare, education, and public sector, offering solutions designed for flexibility and adaptability. Headquartered in Calgary, Alberta, Canada, DIRTT’s offerings aim to provide design freedom and certainty in cost, schedule, and outcomes.
YTD Price Performance: 17.92%
Average Trading Volume: 41,622
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $160.8M
For an in-depth examination of DRT stock, go to TipRanks’ Stock Analysis page.
