Generac Holdings Inc. (NYSE:GNRC) Files An 8-K Other EventsItem 8.01Other Events
The Company announced that its Board of Directors has authorized a new stock repurchase program, which will commence subsequent to the expiration of the previously announced Company stock repurchase program that is due to expire on October 26, 2018. Under the newly authorized stock repurchase program, the Company may repurchase up to $250 million of its common stock over a 24 month period, commencing October 27, 2018. Under the terms of such program, the Company may continue to repurchase its common stock from time to time, in amounts and at prices the Company deems appropriate, subject to market conditions and other considerations. The Company's repurchase of its stock may be executed using open market purchases, privately negotiated agreements or other transactions. The actual timing, number and value of shares repurchased under the program will be determined by management at its discretion and will depend on a number of factors, including the market price of the Company’s shares of common stock and general market and economic conditions, applicable legal requirements, and compliance with the terms of the Company’s outstanding indebtedness. The repurchases will be funded from cash on hand, available borrowings or proceeds from potential debt or other capital markets sources. The stock repurchase program may be suspended or discontinued at any time without prior notice.
About Generac Holdings Inc. (NYSE:GNRC)
Generac Holdings Inc. (Generac) is a designer and manufacturer of a range of power generation equipment and other engine powered products. The Company serves the residential, light commercial, industrial, oil and gas, and construction markets. The other engine powered products that the Company designs and manufactures include light towers, which provide temporary lighting for various end markets; commercial and industrial mobile heaters used in the oil and gas, construction and other industrial markets, and a product line of outdoor power equipment for residential and commercial use. It designs, manufactures, sources and modifies engines, alternators, transfer switches and other components necessary for its products, which are fueled by natural gas, liquid propane, gasoline, diesel and Bi-Fuel. It classifies its products into three categories: Residential products, Commercial & Industrial (C&I) products, and Other products.