Rimini Street Inc. (NASDAQ: RMNI) reduced its debt by $10.9 million during the first quarter of 2026, bringing its outstanding term loan to $58.4 million as of March 31, 2026, according to a company statement.

The enterprise software support provider also amended its credit agreement effective March 27, 2026. The amendment increases the annual limit for common stock repurchases to $20.0 million beginning with fiscal year 2026 and each subsequent fiscal year. The total permitted stock repurchases from January 1, 2026 through the facility's maturity on April 30, 2029 was revised to $50.0 million.

The company's board previously authorized common stock repurchases of up to $50.0 million, with $36.7 million remaining available until April 2029.

"These actions support our disciplined deployment of resources to drive shareholder value through investments in the business, debt reduction and common share repurchases," said Seth Ravin, president and CEO of Rimini Street.

Rimini Street provides third-party support services for Oracle, SAP and VMware software products. The Las Vegas-based company trades on the NASDAQ stock exchange under the ticker RMNI.