Gaiam Repurchases 5% of Its Common Stock
BOULDER, Colo., June 26 /PRNewswire-FirstCall/ -- Gaiam, Inc. (Nasdaq: GAIA) announced today that it has repurchased approximately 1.23 million shares of its common stock in open market transactions at an average price per share of $14.79. The shares repurchased by Gaiam represent approximately 5% of the Company's outstanding shares and are part of a 5 million share stock repurchase authorization previously announced by the Company. The 5 million share repurchase authorization is in addition to the Company's repurchase of 2.5 million shares for $13.14 per share in a privately negotiated transaction in 2007.
Purchases by the Company under its stock buy-back program may be made from time to time in open market purchases, privately-negotiated transactions, or otherwise, as determined by the Company's management. The program does not obligate the Company to acquire any particular number of shares of its common stock. The amount of repurchase activity will depend on a variety of factors, such as the level of cash generated from operations, cash requirements of the Company's businesses, current stock market price, self-imposed blackout periods, corporate and regulatory requirements and market conditions. The stock buy-back program may be suspended, modified or discontinued at any time or from time to time without prior notice, and it has no set expiration date.
Gaiam, Inc. is a lifestyle media company providing a broad selection of information, media, products and services to customers who value personal development, wellness, ecological lifestyles, responsible media and conscious community. For more information about Gaiam, please visit http://www.gaiam.com.
Contact: John Mills Senior Managing Director ICR 310-954-1100 John.Mills@icrinc.com
SOURCE Gaiam, Inc.
Released June 26, 2008