BrightSpire Capital, Inc. (BRSP) Announces $100M Share Buyback

BrightSpire Capital, Inc. (NYSE: BRSP) today announced that the Company’s Board of Directors have authorized a stock repurchase program, under which the Company may repurchase up to $100 million of its outstanding Class A common stock until April 30, 2023 (the “Stock Repurchase Program”). Under the Stock Repurchase Program, the Company may repurchase shares in open market purchases, in privately negotiated transactions or otherwise. The Stock Repurchase Program will be utilized at management's discretion and in accordance with the requirements of the Securities and Exchange Commission. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate requirements and other conditions.

“By using excess cash liquidity on balance sheet, the stock repurchase plan allows us to increase stockholder value, while maintaining sufficient cash resources to fund our origination pipeline and operations. The stock repurchase authorization reflects our ongoing commitment to improving the investment value of the Company’s stock, as well as the strength and long-term growth objectives for the business,” said Michael Mazzei, BrightSpire Capital’s Chief Executive Officer.

You May Also Be Interested In

• Spotify expands share buyback program by $1.5 billion
• Global Interactive Technologies receives Nasdaq non-compliance notice
• Gray Media closes $750M note offering to refinance higher-rate debt