Alteva, Inc. Buyback
OLI recorded this information on 8/26/2014
Company:
Alteva, Inc.
Buyback:
ALTV buyback
$Amount Authorized:
$3,000,000
Buyback Details:
The Company's board of directors (the "Alteva Board") has authorized a repurchase program for up to $3,000,000 of its common stock. Share purchases may take place in open market transactions or in privately negotiated transactions and may be made from time to time depending on market conditions, share price, trading volume and other factors. Such purchases will be made in accordance with applicable securities laws and regulations. For all or a portion of the authorized repurchase amount, Alteva may enter into a plan that is compliant with Rule 10b5-1 of the United States Securities Exchange Act of 1934 that is designed to facilitate these purchases. The repurchase program authorized by the Alteva Board does not require Alteva to acquire a specific number of shares, and may be terminated, suspended, or modified at any time. The timing and actual number of shares repurchased, if any, will depend on a variety of factors including the market price of the Company's common stock, regulatory, legal and contractual requirements, and other market factors. The share repurchases will be funded from available cash on hand.
Alteva is a provider of hosted Unified Communications as a Service (UCaaS). Co.'s UCaaS solution integrates and optimizes cloud-based technologies and business applications. Co. has two operating segments: UC, which integrates Hosted Voice over Internet Protocol with business productivity applications including Microsoft Office, Google Apps for Business, Salesforce and vertical market specific software; and Telephone, which consists of providing local and toll telephone service, broadband and fiber Internet access services and satellite video services to residential and business customers.
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Avg. Broker Rec.
 
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Hold (2.00 out of 4) 100th percentile
(ranked higher than approx. 100% of all stocks covered)
Based on Zacks ABR data; powered by Xignite |
