LivePerson authorizes extension of buyback, additional funding of $10M
LivePerson said that, on November 21, its board of directors authorized the extension and additional funding of a previously-announced stock repurchase program under which the company has the ability to repurchase shares of its common stock at times and prices considered appropriate by the board of directors or a committee appointed by the board of directors. The board authorized the extension of the program through December 31, 2017 as well as additional funding in the amount of $10M. The $10M additional funding is in addition to $64M previously authorized since December 2012, when the repurchase program was originally adopted. The company may effectuate the stock repurchase program through purchases in the open market or privately negotiated transactions, depending upon prevailing market conditions and other corporate considerations. The stock repurchase program is subject to business and market conditions, and may be suspended or discontinued at any time by the board of directors of the company. The repurchase program is scheduled to expire on December 31, 2017. The stock repurchase program will be funded using the company's available cash.