DocGo Announces Share Repurchase Program of Up To $40 Million
NEW YORK–(Organization WIRE)–DocGo (Nasdaq: DCGO), a foremost service provider of last-mile cell overall health products and services and integrated clinical transportation solutions, announced these days that its Board of Administrators has licensed a share repurchase method pursuant to which the Enterprise could purchase up to $40 million of its Prevalent Inventory.
“DocGo continues to revolutionize the shipping of health care, and this announcement demonstrates our self-assurance in the firm’s long term,” reported Stan Vashovsky Co-Founder and CEO of DocGo. “DocGo is not only expanding revenues rapidly, but also producing considerable no cost hard cash flow and based on our latest valuation, the Board believes the repurchase of shares is prudent. With a potent balance sheet, including $199 million in income, dollars equivalents and restricted funds, we will proceed to seem for opportunities to greatly enhance shareholder benefit.”
Less than the terms of the repurchase method, DocGo may well invest in shares of its Frequent Stock on a discretionary basis from time to time by open market repurchases, privately negotiated transactions, or other means, such as by means of Rule 10b5-1 trading programs. Citigroup International Markets Inc. will provide as DocGo’s broker-supplier for the repurchase program.
The timing and precise quantity of shares repurchased will depend on a assortment of aspects, such as inventory selling price, investing quantity, industry conditions, corporate and regulatory prerequisites, and other standard organization considerations. The repurchase method will expire on November 24th, 2023, and may be modified, suspended, or discontinued at any time with out prior detect.
Repurchases below this application will be funded from DocGo’s existing money and funds equivalents or potential hard cash stream.
About DocGo
DocGo is a top company of last-mile cellular treatment providers and built-in clinical transportation answers. DocGo is disrupting the standard 4-wall health care system by delivering treatment to individuals exactly where and when they need it. DocGo’s revolutionary technological innovation and committed discipline staff members of accredited well being specialists elevate the high-quality of affected person treatment and travel business efficiencies for services, medical center networks, and health and fitness insurance plan suppliers. With Cell Well being, DocGo empowers the entire assure and possible of telehealth by facilitating health care treatment method, in tandem with a distant health practitioner, in the ease and comfort of a patient’s residence or place of work. Together with DocGo’s integrated Ambulnz healthcare transport solutions, DocGo is bridging the hole involving actual physical and virtual care. For far more information, be sure to pay a visit to www.docgo.com.
Forward-On the lookout Statements
This announcement consists of forward-hunting statements (which include in the meaning of Portion 21E of the U.S. Securities Exchange Act of 1934, as amended, and Portion 27A of the U.S. Securities Act of 1933, as amended) relating to DocGo. These statements include, but are not constrained to, statements that address our expected long term organization and economic overall performance and statements about (i) our plans, aims and intentions with regard to long term functions, expert services and merchandise, like the share repurchase application, (ii) our competitive placement and possibilities, , together with our skill to comprehend the rewards from our functioning design, and (iii) other statements determined by phrases these types of as “might”, “will”, “count on”, “intend”, “plan”, “likely”, “believe that”, “seek out”, “could”, “estimate”, “judgment”, “concentrating on”, “should really”, “foresee”, “forecast” “undertaking”, “purpose”, “purpose”, “outlook”, “assistance”, and related words, phrases or expressions. These forward-on the lookout statements are primarily based on management’s latest anticipations and beliefs, as very well as assumptions created by, and info at this time available to, management, and latest marketplace developments and disorders. Forward-hunting statements inherently require challenges and uncertainties, many of which are outside of our handle, and which may possibly induce true outcomes to differ materially from those contained in our forward-searching statements. Accordingly, you should not put undue reliance on this kind of statements. Certain uncertainties that could materially have an impact on present or long run success consist of achievable accounting adjustments built in the course of action of finalizing noted monetary success any risks related with world-wide financial ailments and worries the results of global outbreaks of pandemics or contagious ailments or dread of this sort of outbreaks, this sort of as the COVID-19 coronavirus pandemic competitive pressures pricing declines charges of progress in our target marketplaces our ability to boost gross margins value-containment actions legislative and regulatory actions the impact of legal proceedings and compliance pitfalls the influence on our small business and standing in the celebration of information know-how technique failures, network disruptions, cyber-attacks, or losses or unauthorized obtain to, or release of, private info and the means of the enterprise to comply with legislation and polices relating to details privacy and protection. We undertake no intent or obligation to publicly update or revise any of these ahead-on the lookout statements, irrespective of whether as a final result of new information and facts, future events or usually.
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