TMCnet News
AUTOBYTEL INC FILES (8-K) Disclosing Other Events, Financial Statements and Exhibits(Edgar Glimpses Via Acquire Media NewsEdge) Item 8.01 Other Events. On September 16, 2014, the Board of Directors of Autobytel Inc. ("Company") approved an additional $1.0 million common stock repurchase program, increasing the total program to an aggregate of $3.0 million of common stock the Company has been authorized to purchase. Autobytel's Board of Directors previously authorized the Company to repurchase $2.0 million of its common stock on June 7, 2012. The Company had approximately 9.0 million shares of common stock outstanding as of September 16, 2014. The Company may repurchase shares of its common stock from time to time on the open market and/or in private transactions. The Company will fund any repurchases through the use of available cash. The timing and actual number of shares repurchased will depend upon a variety of factors, including price, market conditions, release of quarterly and annual earnings and other legal, regulatory and corporate considerations at the Company's sole discretion. The repurchase authorizations do not obligate the Company to repurchase any particular number of shares. The authorizations may be increased or otherwise modified, renewed, suspended or terminated by the Company at any time, without prior notice. A press release announcing the increased repurchase program was issued and is attached hereto as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits (d) Exhibits 99.1 Press release dated September 17, 2014 2-------------------------------------------------------------------------------- |