KindlyMD(TM) Announces $500,000 Share Repurchase Program

Rhea-AI Summary

KindlyMD (NASDAQ:KDLY), a patient-first healthcare and healthcare data company, has announced a $500,000 share repurchase program. The program, authorized by the Board of Directors, allows the company to repurchase its common shares from time to time, based on market conditions. CEO Tim Pickett stated that this move demonstrates confidence in KindlyMD's current valuation and future growth opportunity, as well as a commitment to enhancing shareholder value.

The repurchases may be made in the open market, through private negotiations, or other means in compliance with securities laws. The program has no time limit and does not obligate the company to repurchase any specific amount of shares. The timing and amount of repurchases will be determined by management based on various factors, including market conditions and regulatory requirements.

Positive

• Authorization of a $500,000 share repurchase program
• Demonstrates management's confidence in the company's valuation and growth prospects
• Potential to enhance shareholder value through stock buybacks
• Flexibility in timing and execution of repurchases

Negative

• None.

SALT LAKE CITY, UT / ACCESSWIRE / October 15, 2024 / KindlyMD, Inc. ("KindlyMD" or the "Company") (NASDAQ:KDLY), a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies, today announced its Board of Directors has authorized a stock repurchase program under which the Company may repurchase up to $500,000 worth of the Company's common shares ("Shares"), from time-to-time, as market conditions warrant.

Tim Pickett, Chief Executive Officer, "Our stock buyback program demonstrates our confidence in KindlyMD's current valuation, future growth opportunity and commitment to enhancing shareholder value."

The Company's proposed repurchases may be made in the open market, in privately negotiated transactions, or otherwise in accordance with applicable securities laws and other requirements. The amount and timing of any repurchases will be determined at management's discretion and depend on a variety of factors, including business, economic and market conditions, regulatory requirements, prevailing stock prices and other considerations. The share repurchase program has no time limit, does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and may be amended, suspended or discontinued at any time.

About KindlyMD

KindlyMD™️ is a patient-first healthcare and healthcare data company uniquely integrating traditional primary care and pain management strategies with integrated behavioral and alternative therapies to offer patients comprehensive care and reduce the addiction and dependency of opioid use in the U.S. KindlyMD currently operates four centers including the largest alternative pain treatment center in Utah. With a focus on holistic pain management through its specialty outpatient clinical services, including, where appropriate, the recommendation of medical cannabis by KindlyMD healthcare providers, KindlyMD is providing better patient health outcomes.

For more information, please visit www.kindlymd.com.

Forward-Looking Statements

This press release contains certain forward-looking statements that are based upon current expectations and involve certain risks and uncertainties within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements can be identified by the use of words such as "should," "may," "intends," "anticipates," "believes," "estimates," "projects," "forecasts," "expects," "plans," and "proposes." These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties, and other factors, some of which are beyond our control and difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including, but not limited to, the statements made under the heading "Risk Factors" in KindlyMD, Inc.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. KindlyMD, Inc. does not undertake any duty to update any forward-looking statements except as may be required by law. The information which appears on our websites and our social media platforms, including, but not limited to, Instagram and Facebook, is not part of this press release.

Investor Relations Contact:

Valter Pinto, Managing Director
KCSA Strategic Communications
(212) 896-1254
KindlyMD@KCSA.com

SOURCE: KindlyMD, Inc

View the original press release on accesswire.com

FAQ

What is the value of KindlyMD's (KDLY) newly announced share repurchase program?

KindlyMD (KDLY) has announced a share repurchase program worth up to $500,000.

When does KindlyMD's (KDLY) share repurchase program expire?

The share repurchase program announced by KindlyMD (KDLY) has no time limit.

How will KindlyMD (KDLY) execute its share repurchase program?

KindlyMD (KDLY) may execute repurchases in the open market, through privately negotiated transactions, or other means in compliance with securities laws.

What factors will determine KindlyMD's (KDLY) share repurchases under the new program?

The timing and amount of KindlyMD's (KDLY) share repurchases will be determined by management based on factors such as market conditions, regulatory requirements, and business considerations.