SBC Medical Group board authorizes $20M share repurchase program

SBC Medical Group (SBC) Holdings announced an updated capital strategy for future growth, which includes the filing of a Form S-3 registration statement with the U.S. Securities and Exchange Commission and a share repurchase program. The Company’s Form S-3 Registration Statement, which was declared effective by the SEC on December 30, enables the Company to offer and sell, from time to time in one or more offerings, up to $50M of common stock or preferred stock on a primary basis. The Company is not selling any securities from the shelf registration statement at this time, and if the Company decides to raise capital in a future offering using the shelf registration statement, the Company will describe the specific details of that future offering in a prospectus supplement that is filed with the SEC. The Company’s Board of Directors has authorized a $20M share repurchase program, pursuant to which the Company may repurchase shares of its common stock from time to time through open market transactions, through privately negotiated transactions, or by other means, in accordance with applicable securities laws and restrictions. Open market purchases are expected to be structured to occur within the requirements of Rule 10b-18 under the Exchange Act. The repurchase program terminates on December 31, 2026, and may be modified, suspended or discontinued at any time in the Company’s discretion.