Real Estate News

THE INTERGROUP CORPORATION ANNOUNCES INCREASE IN SHARE REPURCHASE PROGRAM

Los Angeles, California, Dec. 20, 2021 (GLOBE NEWSWIRE) -- The InterGroup Corporation (NASDAQ: INTG) today announced that its Board of Directors has authorized the Company to purchase up to an additional 125,000 shares of the Company’s common stock under its existing stock repurchase program, reflecting the Board’s confidence in management and the Company’s business, as well as belief that the Company’s shares are undervalued.

Stem Holdings Announces Divestiture of E-Commerce and Delivery Operations and Management Changes

Divestiture of Driven Deliveries, Inc. and its subsidiaries will immediately return 12.5 million shares to treasury, reduce total liabilities by $7.1 million, and increase working capital by $4.1 million

Total expenses will be reduced by $9.6 million annually, positioning the Company to achieve a positive Adjusted EBITDA in CY 2022

Company will focus all resources on high-growth, high-margin vertically integrated cultivation, processing and retail operations in California and Oregon

Adam Berk has resigned as CEO and Steve Hubbard, co-founder and current CFO, has been appointed interim CEO

BOCA RATON, Fla.

Compare listings

Compare