RealD Announces $50M Stock Repurchase Program

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[Techtaffy Newsdesk]

RealD’s board has authorized the repurchase of up to $50 million of RealD’s common stock. As of April 19, 2012, the company had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The Company has approximately 54.6 million shares of common stock outstanding.

RealD has also entered into a new $125 million credit agreement. The facility replaces RealD’s existing credit agreement, which had been most recently amended on December 6, 2011. The new $125 million credit agreement is comprised of a $75 million revolving credit facility and a $50 million delayed-draw term loan facility.

RealD is a licensor of 3D technologies. RealD’s technologies have been used for applications such as piloting the Mars Rover.

[Image Courtesy: RealD]