ATLANTA, March 10, 2020 (GLOBE NEWSWIRE) — PRGX Global, Inc. (Nasdaq: PRGX), a global leader in Recovery Audit and Spend Analytics services, announced today that its Board of Directors has approved a stock repurchase program under which PRGX may repurchase up to $20 million of its outstanding common stock from time to time through December 31, 2021. The Company’s prior repurchase program expired on December 31, 2019.
Under the Company’s stock repurchase program, purchases take place as and when determined by the Company in open market or private transactions, including transactions that may be effected pursuant to Rule 10b5-1 of the United States Securities Exchange Act of 1934, as amended. The timing and amount of repurchases, if any, will depend upon the market price of the Company’s common stock, the nature of other investment and growth opportunities, expected free cash flow, general economic and market conditions and other corporate considerations. The stock repurchase program does not require the Company to repurchase any specific number of shares and may be modified, suspended, extended or terminated by the Company at any time without prior notice. The Company currently has approximately 23.8 million shares of its common stock outstanding.
PRGX helps companies spot value in their source-to-pay processes that other sophisticated solutions didn’t get to before. Having identified more than 300 common points of leakage, we help companies reach wider, dig deeper, and act faster to get more value out of their source-to-pay data. We pioneered this industry nearly 50 years ago, and today we help clients in more than 30 countries take back $1.2 billion in annual cash flow. It’s why 75% of top global retailers and a third of the largest companies in the Fortune 500 rely on us. For additional information on PRGX, please visit www.prgx.com.
PRGX Global, Inc.