Proto Labs Inc 8-K, filed Dec 10, 2021
Proto Labs Inc (PRLB)
About this 8-K
Proto Labs Inc filed this 8-K on December 10, 2021, reporting on events of December 8, 2021.
Items reported
- Item 7.01: Regulation FD disclosure
- Item 9.01: Financial statements and exhibits
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
|
|
|
Date of report (Date of earliest event reported)
|
|
|
|
(Exact Name of Registrant as Specified in its Charter)
|
|
|
|
|
||
|
(State of Incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
|
|
|
|
|
(Address of Principal Executive Offices)
|
(Zip Code)
|
|
|
(
|
||
|
(Registrant’s Telephone Number, Including Area Code)
|
||
|
Not Applicable
|
||
|
(Former Name or Former Address, if Changed Since Last Report)
|
|
|
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
|
|
|
|
|
PROTO LABS, INC.
|
||
|
Date: December 10, 2021
|
/s/ Robert Bodor
|
|
|
Robert Bodor
|
||
|
President and Chief Executive Officer
|
Exhibit 99.1
 |
3D Printing CNC Machining Sheet Metal Fabrication Injection Molding |
Protolabs Announces $50 Million Increase to Stock Repurchase Authorization
MAPLE PLAIN, MINN.—December 10, 2021— Protolabs (NYSE: PRLB) announced today that on December 8, 2021 its Board of Directors approved a $50 million increase in its authorized stock repurchase program currently in effect, with an expiration date of December 31, 2023. This authorization increases the stock repurchase program to $150 million. As of December 7, 2021, Protolabs had repurchased an aggregate dollar value of $87 million, resulting in $63 million remaining available to purchase common stock under the expanded stock repurchase program.
Under this authorization, Protolabs is not required to purchase shares, but may choose to do so in the open market or through private transactions at times and amounts determined by the company based on its evaluation of market conditions and other factors.
Protolabs’ capital allocation strategy remains unchanged. Protolabs prioritizes organic investment to enhance its platform and capacity with a focus on serving customers with world class lead times. The company also invests in research and development to expand and enhance its envelope of service offerings to meet additional customer needs. Next, Protolabs looks for potential strategic acquisition opportunities that further the company’s growth strategy. Finally, the company provides the return realized by these investments to its shareholders through opportunistic stock repurchases.
About Protolabs
Protolabs is the world’s leading provider of digital manufacturing services. The e-commerce-based company offers injection molding, CNC machining, 3D printing, and sheet metal fabrication to product developers, engineers, and supply chain teams across the globe. Protolabs serves customers using in-house production capabilities that bring unprecedented speed in tandem with Hubs, a Protolabs Company, which serves customers through its network of premium manufacturing partners. Together, they help companies bring new ideas to market with the fastest and most comprehensive digital manufacturing service in the world. Visit protolabs.com for more information.
|
|
3D Printing CNC Machining Sheet Metal Fabrication Injection Molding |
Forward-Looking Statements
Statements contained in this press release regarding matters that are not historical or current facts are “forward-looking statements” within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve known and unknown risks, uncertainties and other factors which may cause the results of Protolabs to be materially different than those expressed or implied in such statements. Certain of these risk factors and others are described in the “Risk Factors” section within reports filed with the SEC. Other unknown or unpredictable factors also could have material adverse effects on Protolabs’ future results. The forward-looking statements included in this press release are made only as of the date hereof. Protolabs cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Protolabs expressly disclaims any intent or obligation to update any forward-looking statements to reflect subsequent events or circumstances.
Investor Relations Contact:
Protolabs
Dan Schumacher, 763-479-7240
Interim Chief Financial Officer
daniel.schumacher@protolabs.com
Media Contact:
Protolabs
Will Martin, 763-479-7719
Director of Marketing Communications
will.martin@protolabs.com