Compass Diversified OKs $100M Share Buyback
Ticker: CODI-PC · Form: 8-K · Filed: Aug 19, 2024 · CIK: 1345126
Sentiment: bullish
Topics: share-repurchase, board-approval, stock-buyback
Related Tickers: CODI
TL;DR
CODI authorized a $100M buyback, expiring Aug 2025. Bullish signal.
AI Summary
Compass Diversified Holdings announced on August 16, 2024, that its Board of Directors has approved a new share repurchase program. The company is authorized to repurchase up to $100 million of its common stock through August 15, 2025. This program reflects management's confidence in the company's financial position and future prospects.
Why It Matters
A significant share repurchase program can signal management's belief that the stock is undervalued, potentially boosting investor confidence and share price.
Risk Assessment
Risk Level: low — Share repurchase programs are generally viewed positively and indicate financial strength, posing minimal immediate risk.
Key Numbers
- $100.0M — Share Repurchase Authorization (Maximum amount the company can spend on repurchasing its own stock.)
Key Players & Entities
- Compass Diversified Holdings (company) — Filer of the 8-K
- $100 million (dollar_amount) — Authorized amount for share repurchase
- August 16, 2024 (date) — Date of Board approval for share repurchase
- August 15, 2025 (date) — Expiration date of the share repurchase program
FAQ
What is the total amount authorized for Compass Diversified Holdings' share repurchase program?
The company has authorized up to $100 million for its share repurchase program.
When was the share repurchase program approved by the Board of Directors?
The Board of Directors approved the share repurchase program on August 16, 2024.
What is the expiration date of the new share repurchase program?
The share repurchase program is authorized to continue through August 15, 2025.
What is the ticker symbol for Compass Diversified Holdings?
The ticker symbol for Compass Diversified Holdings is CODI.
What is the primary purpose of this 8-K filing?
This 8-K filing is primarily for a Regulation FD Disclosure regarding the approval of a new share repurchase program.
Filing Stats: 766 words · 3 min read · ~3 pages · Grade level 13.5 · Accepted 2024-08-19 09:18:46
Key Financial Figures
- $137 m — y ("Lifoam") for an enterprise value of $137 million, excluding working capital and ot
Filing Documents
- codi-20240816.htm (8-K) — 43KB
- codipressrelease-lifoam.htm (EX-99.1) — 15KB
- codilogo2020a03.jpg (GRAPHIC) — 13KB
- 0001345126-24-000042.txt ( ) — 272KB
- codi-20240816.xsd (EX-101.SCH) — 5KB
- codi-20240816_def.xml (EX-101.DEF) — 19KB
- codi-20240816_lab.xml (EX-101.LAB) — 36KB
- codi-20240816_pre.xml (EX-101.PRE) — 19KB
- codi-20240816_htm.xml (XML) — 6KB
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure On August 19, 2024, Compass Diversified Holdings and Compass Group Diversified Holdings LLC (collectively, "Compass Diversified") issued a Press Release announcing that Compass Diversified's subsidiary, Foam Fabricators, Inc., d/b/a Altor Solutions, a Delaware corporation, has executed a definitive agreement, effective August 16, 2024, to acquire 100% of the outstanding equity interests of Lifoam Industries LLC, a Delaware limited liability company ("Lifoam") for an enterprise value of $137 million, excluding working capital and other adjustments to the purchase price (the "Acquisition"). A copy of the Press Release is attached as Exhibit 99.1 to this Current Report on Form 8-K. Lifoam is a manufacturer and distributor of temperature-controlled shipping solutions. The Acquisition is expected to close in September, subject to satisfaction of customary closing conditions. The information under this Item 7.01 and Exhibit 99.1 attached hereto are being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), nor shall such information or exhibit be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filings, except as shall be expressly set forth by specific reference in such a filing. The furnishing of Exhibit 99.1 attached hereto is not intended to constitute a determination by Compass Diversified that the information is material or that the dissemination of the information is required by Regulation FD. Section 9 Financial Statements and Exhibits
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit Number Description 99.1 Press Release of Compass Diversified, dated August 19, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 19, 2024 COMPASS DIVERSIFIED HOLDINGS By: /s/ Ryan J. Faulkingham Ryan J. Faulkingham Regular Trustee
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: August 19, 2024 COMPASS GROUP DIVERSIFIED HOLDINGS LLC By: /s/ Ryan J. Faulkingham Ryan J. Faulkingham Chief Financial Officer