Rimini Street, Inc., (Nasdaq: RMNI), a global provider of end-to-end enterprise software support, managed services and Agentic AI ERP innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced additional, recent capital return and balance sheet optimization actions as noted below during the fiscal third quarter through August 28, 2026:
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- Debt Reduction: The Company prepaid $5.0 million of its term loan and has reduced term loan debt by a total of $25.9 million fiscal year-to-date, reducing the outstanding balance to $43.4 million.
- Share Repurchases: The Company repurchased 970,566 shares of its common stock at an average price of $5.16 per share for an aggregate cost of approximately $5.0 million.
“Our year-to-date share repurchases and debt prepayments demonstrate our commitment to creating long-term stockholder value and our disciplined approach to capital allocation,” said Michael Perica, executive vice president and CFO, Rimini Street. “With $30.9 million already allocated to capital return and balance sheet optimization year-to-date in fiscal 2026, we have enhanced stockholder value, further reduced our debt and strengthened the balance sheet while preserving the financial flexibility to invest in our strategic growth priorities.”
* Article first published on: itweb.africa
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