NuVasive's board of directors approved a share repurchase program.
Here are seven things to know:
1. The program authorizes the purchase of NuVasive's common stock of up to $100 million.
2. The repurchase program takes place over a three-year period, beginning Oct. 25.
3. NuVasive may repurchase stock during this time in various amounts and prices. The program doesn't indicate the number of shares to be repurchased.
4. The repurchases may occur in the open market, in private negotiations and other transactions.
5. NuVasive reported it will fund repurchases from cash on hand, cash generated from operations and available borrowing under its existing credit facility.
6. The repurchase program may stop at any time without warning.
7. As of Sept. 30, NuVasive had about 51 million outstanding shares of common stock.
"We are confident in our ability to fund long-term organic growth initiatives and improve operating profitability, while staying committed to disciplined capital deployment and to driving value for our shareholders," said Gregory T. Lucier, NuVasive chairman and CEO.