NEW YORK--(BUSINESS WIRE)--
Tiptree Inc. (NASDAQ:TIPT) (the “Company”) today announced that it has
engaged a broker in connection with a share repurchase program for the
daily repurchase of up to $10 million of the Company’s outstanding
common stock (“Shares”). In addition, the Company’s Board of Directors
extended the Company’s authorization to make additional block
repurchases of up to $10 million of Shares in the aggregate, at the
discretion of the Company's Executive Committee.
Consistent with previous authorizations, the Company expects such share
repurchases to be made from time to time in the open market or through
privately negotiated transactions, or otherwise, subject to applicable
laws and regulations. The timing of such share repurchases will depend
on a variety of factors, including but not limited to, stock price,
trading volume and general market conditions. The Company may repurchase
less than the combined $20 million of Shares indicated above.
About Tiptree
Tiptree Inc. (NASDAQ: TIPT) is a holding company that combines insurance
operations with investment management expertise. The Company’s principal
operating subsidiary is a leading provider of specialty insurance
products and related services, including credit protection, warranty,
and programs which underwrite niche personal and commercial lines of
insurance. The Company also allocates capital across a broad spectrum of
investments, which is referred to as Tiptree Capital. Today, Tiptree
Capital consists of asset management operations, mortgage operations and
other investments. For more information, please visit www.tiptreeinc.com.
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Tiptree Inc.
Investor Relations, 212-446-1400
ir@tiptreeinc.com
Source: Tiptree Inc.