STR Holdings, Inc. (NYSE:STRI) announces a share repurchase program. Under the program, the company will repurchase up to $30 million worth of its shares. The shares will be purchased at a price not greater than $1.54 per share or less than $1.0 per share.

The purchases will be made through modified "Dutch auction" tender offer. All Shares repurchased pursuant to the offer will be retired. The company will use a portion of our cash and cash equivalents to fund the acquisition of shares pursuant to the offer.

The purpose of the company is to return excess cash to their shareholders. The Offer is not conditioned upon obtaining financing or any minimum number of Shares being tendered. The company reserve the right, in their sole discretion, to change the per share purchase price range and to increase or decrease the aggregate purchase price of the offer, subject to applicable law.

The company may amend or extend the offer, increase the number of shares accepted for payment in the offer by no more than 2% of the number of our outstanding shares. The program will expire on February 28, 2014. As of December 31, 2013, there were 41,886,915 Shares issued and outstanding.