(RTTNews) - Life360, Inc. (360.AX, LIFX, LIF) Monday said that its Board of Directors has authorized a multi-year share repurchase program worth $225 million. The program plans to enhance shareholder value by offsetting dilution from stock-based compensation instruments.
As per the terms of the program, the California-based Information Technology company said it may repurchase its common stock in the U.S. from time to time through open-market purchases, privately negotiated transactions, block trades, or other legally permissible methods, subject to market conditions and applicable regulations.
Commenting on the share repurchase program, Chief Executive Officer Lauren Antonoff said, "We remain focused on investing in the Life360 platform as we grow our global member base and deepen the value we deliver to families. This targeted share repurchase program reflects the Board's confidence in the durability of our model, our disciplined capital allocation, and our ability to generate consistent long-term cash flow."
On the ASX, 360.AX is currently trading down 0.81 percent on Monday at A$18.29.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
