Renewable Energy Group, Inc. (NASDAQ:REGI) Files An 8-K Other Events
Item 8.01 Other Events.
On January 29, 2019, the board of directors of Renewable Energy Group, Inc. (the “Company”) authorized a new repurchase program under which the Company may spend up to $75.0 million to repurchase the Company’s 2.75% Convertible Senior Notes due 2019, 4.00% Convertible Senior Notes due 2036, and/or shares of common stock. Under this new program, the Company may repurchase Convertible Senior Notes or shares from time to time in the open market or privately negotiated transactions or otherwise. This new authorization is in addition to approximately $7.4 million remaining from the $75.0 million repurchase program announced by the Company in June 2018.
The program is open-ended and the timing and amount of repurchase transactions will be determined by the Company’s management based on its evaluation of market conditions, market prices, legal requirements and other factors. The program may be suspended, modified or discontinued at any time without prior notice.
About Renewable Energy Group, Inc. (NASDAQ:REGI)
Renewable Energy Group, Inc. is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. The Biomass-based diesel segment processes waste vegetable oils, animal fats, virgin vegetable oils and other feedstocks and methanol into biomass-based diesel. The Services segment offers services for managing the construction of biomass-based diesel production facilities and managing ongoing operations of third-party plants. The Renewable Chemicals segment includes research and development activities focusing on microbial fermentation to develop and produce renewable chemicals, fuels and other products. The Corporate and Other segment includes trading activities related to petroleum-based heating oil and diesel fuel.