BKV Corporation (NYSE: BKV) shares hiked Thursday, after the company announced that its Board of Directors has authorized a two-year share repurchase program pursuant to which the Company may repurchase from time to time up to $100 million of the Company’s outstanding common stock.
The Company may repurchase shares of its common stock through open market purchases, block trades, 10b5-1 plans, or by means of privately negotiated purchases, in each case subject to compliance with the applicable provisions of federal and state securities laws and regulations.
The timing and total amount of any share repurchases will be determined at the discretion of the Company’s management based on a variety of factors, including economic and market conditions, the stock price, the Company’s liquidity requirements and priorities, regulatory requirements, applicable legal requirements and other factors.
The repurchase program does not obligate the Company to repurchase any specific number of shares and may be suspended, modified, or discontinued at any time at the discretion of the Company’s Board of Directors.
Share repurchases are expected to be funded through available cash or borrowings under the Company’s existing reserve-based lending agreement.
BKV shares gathered 62 cents, or 2.4%, to begin Thursday at $26.87.
