Shoals Technologies authorizes $150M share repurchase; enters $25M ASR with Jefferies

Shoals Technologies Group, Inc.

Board approved repurchase of up to $150M of Class A common stock through Dec 31, 2025.
Entered $25M accelerated share repurchase (ASR) with Jefferies LLC; initial delivery ~2.2M shares at $6.81 closing price.
Final ASR settlement based on daily VWAP less discount; expected to complete in Q3 2024.
Repurchases funded by cash on hand, free cash flow, and credit facilities.
CEO cites confidence in business and long-term growth potential.

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