Anterix (ATEX) Announces $250M Share Buyback

Anterix (NASDAQ: ATEX) today announced that its Board of Directors has authorized a new share repurchase program under which the Company may repurchase up to $250 million of its outstanding shares of common stock over a three-year period.

This Board authorization builds upon the Company's previous share repurchase authorization, which was approved in September 2021 and expires September 29, 2023. Under that program, approximately $34 million of Anterix's stock has been repurchased, of which approximately $11 million was spent in the current quarter.

Share repurchases may be made utilizing a variety of methods, including open market purchases, privately negotiated transactions, and under Rule 10b5-1 trading plans at such times and in such amounts as management deems appropriate.

The Company's ability to effect its share repurchases, and the timing thereof, will depend on the proceeds from customer contracts, the timing of which is unpredictable, as well as general business and market conditions, the Company's capital position, and other strategic considerations. The Company's repurchase program may be suspended or discontinued at any time.

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