- Granite Ridge Resources (NYSE:GRNT) has approved a stock repurchase program authorizing management of the Co. to repurchase up to $50M of the Co.’s common stock through Dec. 31, 2023.
- The Co. has also waived certain lock-up transfer restrictions contained in the Co.’s Registration Rights and Lock-Up Agreement with certain stockholders as it relates to ~23.6M shares of Granite Ridge common stock.
- Under the program, Granite Ridge will repurchase shares of its common stock from time to time in open market transactions or in privately negotiated transactions as permitted under applicable rules and regulations.
- "Using a portion of our cash flow from operations, we can make opportunistic stock repurchases that we believe will enhance value for our stockholders as Grey Rock continues to distribute the shares that it manages for its funds.” said Luke Brandenberg, Granite Ridge’s President and CEO.