Alto Ingredients, Inc. (NASDAQ: ALTO) announces an Equity Buyback Plan for $50 million worth of its shares.
September 12, 2022 at 08:30 am
Share
Alto Ingredients, Inc. (NASDAQ: ALTO) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of common stock. The company anticipates that the repurchase of shares of its common stock under this program could be funded with a combination of existing cash, cash flow, borrowings under existing credit facilities and proceeds from potential incremental borrowing arrangements.
Alto Ingredients, Inc. produces and distributes renewable fuel and essential ingredients and is a producer of specialty alcohols in the United States. The Company's segments include Pekin Campus production, marketing and distribution and Western production. Pekin Campus production segment includes the production and sale of alcohols and essential ingredients produced at the Companyâs Pekin, Illinois campus. Its marketing and distribution segment includes marketing and merchant trading for Company-produced alcohols and essential ingredients on an aggregated basis, and sales of fuel-grade ethanol sourced from third parties. Western production segment includes the production and sale of fuel-grade ethanol and essential ingredients produced the Companyâs two western production facilities. It produces specialty alcohols, fuel-grade ethanol and essential ingredients, focusing on various markets, such as health, home and beauty; food and beverage; essential ingredients, and renewable fuels.
ALTO INGREDIENTS, INC. 
