Cytek Biosciences Announces $50 Million Stock Repurchase Program for 2025

Core Viewpoint - Cytek Biosciences, Inc. has announced a new stock repurchase program for up to $50 million of its common stock, set to begin on January 1, 2025, following the expiration of the existing program on December 31, 2024 [1]. Summary by Relevant Sections Stock Repurchase Program - The Board of Directors has approved a stock repurchase program for an additional aggregate of $50 million [1]. - The new program will commence on January 1, 2025, and will remain effective until December 31, 2025, unless modified by the Board [1]. - The program does not obligate the company to acquire any specific amount of common stock and may be modified or suspended at the company's discretion [3]. Execution of the Program - Repurchases under the 2025 program will be conducted in the open market and/or through privately negotiated transactions [8]. - The timing and amount of repurchases will depend on various factors, including liquidity, cash flow, and market conditions [8]. Company Overview - Cytek Biosciences is a leading cell analysis solutions company that utilizes patented Full Spectrum Profiling technology to enhance cell analysis tools [9]. - The company's product offerings include core FSP instruments, reagent preparation systems, and various detection technologies, providing a comprehensive suite of solutions for customers [9]. - Cytek is headquartered in Fremont, California, with a global presence through offices and distribution channels [9].