SMART Global Holdings, Inc. announces an Equity Buyback for 1,100,000 shares, for $44.3 million.
January 07, 2021 at 10:23 pm
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SMART Global Holdings, Inc. (NasdaqGS:SGH) announces a share repurchase program. Under the program, the company will repurchase up to 1,100,000 shares for $44.3 million. The shares will be repurchased at a price of $40.3 per share. The shares under the program will be repurchased from Silver Lake Partners III Cayman (AIV III), L.P., Silver Lake Technology Investors III Cayman, L.P., Silver Lake Sumeru Fund Cayman, L.P. and Silver Lake Technology Investors Sumeru Cayman, L.P.( collectively, Silver Lake). The Company expects to use available cash to finance the repurchases. The repurchase program will expire on January 15, 2021.
SMART Global Holdings, Inc. is engaged in designing and developing enterprise solutions that help its customers. The Company is focused on serving its customers by providing technical knowledge and expertise, custom design engineering, and build-to-order flexibility. Its segments include Memory Solutions, Intelligent Platform Solutions (IPS) and light emitting diode (LED) Solutions. The Memory Solutions segment, under its SMART Modular brand, provides memory solutions through the design, development and packaging of leading-edge to extended lifecycle products. The IPS segment, under its Penguin Solutions and Stratus Technologies brands, offers specialized platform solutions and services for computing, artificial intelligence, machine learning, advanced modeling and the Internet of things. The LED Solutions segment, under its CreeLED brand, offers a broad portfolio of application-optimized LEDs focused on improving lumen density, intensity, efficacy, optical control and/or reliability.
SMART GLOBAL HOLDINGS, INC. 
