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Axcelis Announces Expansion and Extension of Share Repurchase ProgramBEVERLY, Mass., Dec. 3, 2019 /PRNewswire/ -- Axcelis Technologies, Inc. (Nasdaq: ACLS), a leading supplier of enabling ion implantation solutions for the semiconductor industry, today announced that its Board of Directors has increased its stock repurchase authorization to $50 million, expanding and extending the $35 million share repurchase authorization granted in December 2018. Execution is planned through 2020. The purchases are funded from available working capital. "The increase in our stock repurchase program emphasizes the confidence that management and the board of directors have in Axcelis' operational strength and prospects for the future," said Mary G. Puma, president and chief executive officer. "We will continue to execute on our plans to drive shareholder value through share repurchases over time as a complement to the investments we are making to realize our long-term growth opportunities." Repurchases of the Company's common stock will be made from time to time under the SEC's Rule 10b-18, subject to market conditions. These shares may be purchased in the open market or through privately negotiated transactions. The Company may from time to tim enter into Rule 10b5-1 trading plans to facilitate the repurchase of its common stock pursuant to its share repurchase program. The Company has no obligation to repurchase shares under the authorization. The Company may suspend or discontinue the repurchase program at any time. Safe Harbor Statement About Axcelis: Company Contacts Editorial/Media: View original content to download multimedia:http://www.prnewswire.com/news-releases/axcelis-announces-expansion-and-extension-of-share-repurchase-program-300968012.html SOURCE Axcelis Technologies, Inc. |