Rimini Street, Inc., (the “Company”) (Nasdaq: RMNI), a global provider of end-to-end enterprise software support and innovation solutions, and the leading third-party support provider for Oracle, SAP and VMware software, today announced the completion of the following capital market transactions thus far during the third fiscal quarter of 2025:
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- Repurchased a total of 891,000 shares of common stock for approximately $3.8 million with an average per share purchase price of $4.22, reducing approximately 1.0% of shares outstanding as of July 28, 2025. The Rimini Street Board of Directors had previously authorized a common stock repurchase plan of up to $50.0 million, of which $40.4 million still remains available.
- Repaid the remaining $10.0 million outstanding on the revolving line of credit component of the Company’s credit facility, leaving a term loan balance of $71.3 million.
“With a strong cash flow and liquidity position, we are committed to delivering shareholder value and capital return with what we determine to be surplus capital,” stated Michael Perica, EVP & chief financial officer, Rimini Street. “Going forward, capital return could take several different forms, including continued stock repurchases and debt repayment.”
* Article first published on: www.itweb.co.za
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