BuybackMay 21, 2026, 04:24 PM
Palmer Square Capital BDC Increases Buyback by $30M, Extends to 2027
AI Summary
Palmer Square Capital BDC Inc. announced its board of directors approved an increase and extension of its stock repurchase program. The company authorized an additional $30 million for repurchases, extending the program until June 22, 2027. This includes a new $10 million Rule 10b5-1 plan and a $20 million increase to the existing open market program, reflecting management's belief in the company's value at current levels to drive shareholder returns.
Key Highlights
- Palmer Square Capital BDC's board authorized an additional $30 million for its stock repurchase program.
- The stock repurchase program has been extended to expire on June 22, 2027.
- Approximately $22.2 million in repurchases have been made under the program to date.
- The company expects to enter a Rule 10b5-1 Repurchase Plan for up to $10 million of common stock.
- The $30 million expansion includes a $10 million 10b5-1 program and a $20 million increase to the existing open market program.
- CEO Christopher D. Long expressed conviction in buying PSBD shares at current levels due to discount to book value.
Price Impact
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