Camping World Holdings, Inc. today announced that its Board of Directors has authorized an increase in its stock repurchase program after which $200,000,000 remains available for the repurchase of the Company’s Class A common stock.
The Board of Directors has authorized an increase in the company’s $225,000,000 stock repurchase program originally approved on October 30, 2020, to allow for the repurchase of an additional $152,708,900 of its Class A common stock, effective immediately, resulting in approximately $200,000,000 remaining available for such repurchases. The Board of Directors also extended the expiration of the repurchase authorization to December 31, 2025.
Repurchases under the program may be made in the open market, in privately negotiated transactions or otherwise, with the amount and timing of repurchases to be determined at the Company’s discretion, depending on market conditions and corporate needs.
Open market repurchases will be structured to occur in accordance with applicable federal securities laws, including within the pricing and volume requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended.
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 Class A common stock and the program may be extended, modified, suspended, or discontinued at any time at the Board’s discretion.
Camping World Holdings, Inc. expects to fund the repurchases using cash on hand.
About Camping World Holdings, Inc.
Camping World Holdings, Inc., headquartered in Lincolnshire, IL, (together with its subsidiaries) is America’s largest retailer of RVs and related products and services. Our vision is to build a long-term legacy business that makes RVing fun and easy, and our Camping World and Good Sam brands have been serving RV consumers since 1966. We strive to build long-term value for our customers, employees, and shareholders by combining a unique and comprehensive assortment of RV products and services with a national network of RV dealerships, service centers, and customer support centers along with the industry’s most extensive online presence and a highly trained and knowledgeable team of associates serving our customers, the RV lifestyle, and the communities in which we operate.
We also believe that our Good Sam organization and family of programs and services uniquely enable us to connect with our customers as stewards of the RV enthusiast community and the RV lifestyle. With over 185 locations in 40 states, Camping World, and sister brand Gander RV & Outdoors, have grown to become prime destinations for everything RV.