UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant
to Section 13 or 15(d) of
the Securities Exchange Act of 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
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Item 7.01. | Regulation FD Disclosure |
urban-gro, Inc. (the “Company”) today announced that its Board of Directors has authorized an extension of its stock repurchase program under which the Company can repurchase up to an additional $1.5 million of the currently outstanding shares of the Company’s common stock through open market purchases, privately negotiated transactions, or otherwise in compliance with Rule 10b-18 under the Securities Exchange Act of 1934. A copy of the press release is attached hereto as Exhibit 99.1.
Item 9.01. | Financial Statements and Exhibits. |
Number | Exhibit | |
99.1 | Press Release issued by urban-gro, Inc. on February 2, 2022. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
URBAN-GRO, INC. | ||
Date: February 2, 2022 | By: | /s/ Bradley Nattrass |
Bradley Nattrass | ||
Chief Executive Officer |
Exhibit 99.1
urban-gro, Inc. Announces Further Expansion to Its Stock Repurchase Program
LAFAYETTE, Colo., February 2, 2022 — urban-gro, Inc. (Nasdaq: UGRO) (“urban-gro” or the “Company”), a fully integrated architectural, engineering and cultivation systems integration company focused on the indoor Controlled Environment Agriculture (“CEA”) market, today announced that its Board of Directors has authorized an additional $1.5 million expansion to the Company’s existing stock repurchase program. This expansion builds upon the Company’s existing repurchase authorization of $7 million, which was recently increased by $2 million on January 18, 2022. Under the new authorization, the Company may now purchase up to a combined $8.5 million of the Company’s common stock from time to time in the open market or in privately negotiated transactions in compliance with the applicable rules and regulations of the Securities and Exchange Commission.
The timing and amount of stock repurchases under the program, if any, will be at the discretion of management, and will depend on a variety of factors, including price, available cash, general business and market conditions and other investment opportunities. Therefore, there can be no assurance as to the number or aggregate dollar amount of shares, if any, that will be repurchased under the program. The Company may discontinue the program at any time.
About urban-gro, Inc.
urban-gro, Inc.® (Nasdaq: UGRO) is a fully integrated architectural, engineering and cultivation systems integration company for commercial cannabis and food-focused Controlled Environment Agriculture (“CEA”) facilities. With experience in hundreds of CEA facilities spanning millions of square feet across the globe, we design, engineer and integrate complex environmental equipment systems into high-performance facilities. urban-gro’s gro-care® Managed Services Platform leverages the company’s expertise to reduce downtime, provide continuity, and drive facility optimization. Operating as a crop-agnostic solutions provider in both food and cannabis CEA sectors, our crop-focused end-to-end approach provides a single point of accountability across all aspects of growing operations. Visit urban-gro.com to discover how we help cultivators gro plants and gro profits.
Investor Contacts:
Dan Droller - urban-gro, Inc.
EVP Corporate Development & Investor Relations
-or-
Jeff Sonnek – ICR, Inc.
720.730.8160
investors@urban-gro.com
Media Contact:
Stan Wagner
Managing Director
Maverick Public Relations
303.618.5080
stan@themaverickpr.com
Cover |
Feb. 02, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Feb. 02, 2022 |
Entity File Number | 001-39933 |
Entity Registrant Name | urban-gro, Inc. |
Entity Central Index Key | 0001706524 |
Entity Tax Identification Number | 46-5158469 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | 1751 Panorama Point |
Entity Address, Address Line Two | Unit G |
Entity Address, City or Town | Lafayette |
Entity Address, State or Province | CO |
Entity Address, Postal Zip Code | 80026 |
City Area Code | 720 |
Local Phone Number | 390-3880 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Common Stock, $0.001 par value |
Trading Symbol | UGRO |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | true |
Elected Not To Use the Extended Transition Period | false |
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