Le Lézard
Classified in: Science and technology
Subject: Stock Sale/Buyback

DigitalOcean Announces New $300 Million Share Repurchase Program


DigitalOcean Holdings, Inc. (NYSE: DOCN), the cloud for developers, startups and SMBs, today announced that its board of directors has approved a new plan for the repurchase of up to an aggregate of $300 million of its common stock. This plan is in addition to the $300 million program that was announced in February 2022 and completed in May 2022.

"We are committed to delivering 30%+ revenue growth with robust free cash flow coupled with an efficient capital structure to deliver compelling returns for our investors," said Yancey Spruill, CEO of DigitalOcean. "This announcement demonstrates the confidence we have in our ability to generate free cash flow while still maintaining a strong balance sheet to support our commitment to invest in our organic and inorganic growth."

The repurchases will be made from time to time in the open market at prevailing market prices or in negotiated transactions off the market. Open market repurchases will be structured to occur within the pricing and volume requirements of Rule 10b-18. The company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. This program does not obligate the company to acquire any particular amount of common stock and the program may be extended, modified, suspended or discontinued at any time at the company's discretion.

About DigitalOcean

DigitalOcean simplifies cloud computing so developers and businesses can spend more time building software that changes the world. With its mission-critical infrastructure and fully managed offerings, DigitalOcean helps developers, startups and small and medium-sized businesses (SMBs) rapidly build, deploy and scale applications to accelerate innovation and increase productivity and agility. DigitalOcean combines the power of simplicity, community, open source and customer support so customers can spend less time managing their infrastructure and more time building innovative applications that drive business growth.


These press releases may also interest you

at 20:25
Resecurity, a cybersecurity and intelligence company, today announced its award-winning cybersecurity threat intelligence and risk monitoring platform is now available on Microsoft's Azure Marketplace. Microsoft's Azure Marketplace is the most...

at 20:21
Resecurity, Inc., a U.S.-based cybersecurity and threat intelligence company, recently exhibited its solutions and shared its expertise at Eurosatory in Paris, France. Hosted June 13-17, 2022, Eurosatory is a leading international land and air...

at 20:20
From a cold, wet spring that forced a late planting to June storms that left many Midwestern farmers assessing hail damage, the 2022 growing season got off to a bumpy start across much of the Corn Belt. Fortunately, farmers are resilient by nature,...

at 20:14
Top Digital marketing agency PPC Profit Pros, founded and led by performance marketing expert, Aaron Adamson, is adding in CallRail software into their powerful mix of deep pay-per-click marketing experience, and proven expertise in three of the...

at 20:13
Carebook Technologies Inc. ("Carebook" or the "Company") (XETR: PMM1), a leading Canadian provider of innovative digital health solutions, today announced the voting results from the Annual General and Special Meeting of its Shareholders held...

at 20:02
Expert builders, including kinetic artists featured on FOX's Domino Masters, will attempt a world record-breaking domino run at The Tech Interactive this weekend. Alex Huang, known as Flash Domino and a group of 11 builders plan to use roughly 30,000...



News published on 24 may 2022 at 08:25 and distributed by: