Noodles & Company Buyback
OLI recorded this information on 6/4/2015
Company: |
Noodles & Company |
Buyback: |
NDLS buyback |
$Amount Authorized: |
$35,000,000 |
Buyback Details: |
Noodles & Company (Nasdaq:NDLS) today announced that its Board of Directors, as part of the Company's focus on shareholder returns, has approved a share repurchase program under which it authorized the Company, at its discretion, to repurchase up to $35.0 million of its Class A common shares funded through a combination of cash on hand, cash flow from operations and the Company's revolving line of credit. In conjunction with the share repurchase program, the Company has amended its existing revolving line of credit to increase the maximum available borrowing capacity to $75.0 million from $45.0 million and extend the maturity date to June 2020 from November 2018. As of May 26, 2015, Noodles & Company had approximately $22.4 million of outstanding indebtedness under its revolving line of credit. |
Noodles & Company is a restaurant concept providing lunch and dinner within the restaurant industry. Co.'s menu includes a variety of cooked-to-order dishes, including noodles and pasta, soups, salads and appetizers. Co. provides more than 20 dishes together on a single menu. Co.'s menu allows customers to customize their meals to meet their tastes and nutritional preferences with its selection of a variety of vegetables and nine proteins. Additionally, customers are able to customize the noodle that their dish is prepared with, including healthy options such as its zucchini noodle, cauliflower infused rigatoni, and gluten free pipette noodles.
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March 28, 2024 10:48 AM Eastern
Strong Buy (4.00 out of 4)
84th percentile
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