Procaps Group S.A. commences an Equity Buyback Plan for 11,282,418 shares, representing 10% of its issued share capital, under the plan approved on June 28, 2022.

Procaps Group S.A. (NasdaqGM:PROC) commences share repurchases in June 2023, under the program mandated by shareholders in the Annual General Meeting held on June 28, 2022. As per the mandate, the company is authorized to repurchase up to 11,282,418 shares, representing 10% of its issued share capital. The minimum price to be paid for repurchase is $0.01 and the maximum price to be paid for repurchase should not exceed an amount equal to 120% of the reference price of the weighted average price for the market value for such Ordinary Shares for the 5 days of trading immediately preceding each date of repurchase. The authorization will be valid for 5 years.

On February 13, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 2,000,000 Ordinary Shares worth of $5 million. The share repurchase program shall expire over next 12 months.