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This article was published on April 20, 2012

    3D tech firm RealD is set to buy back $50m of its common stock

    3D tech firm RealD is set to buy back $50m of its common stock
    Martin Bryant
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    Martin Bryant

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    Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-qualit Martin Bryant is founder of Big Revolution, where he helps tech companies refine their proposition and positioning, and develops high-quality, compelling content for them. He previously served in several roles at TNW, including Editor-in-Chief. He left the company in April 2016 for pastures new.

    3D technology company RealD has announced that it plans to buy back $50 million worth of common stock, currently traded on the New York Stock Exchange.

    RealD licenses its stereoscopic 3D technology to cinema chains. Its offering includes everything from the RealD Format used by content producers to create 3D content, to the eyewear we watch 3D films with in theaters. The company has also provided 3D technologies for the piloting of the Mars Rover and heads-up displays in military jets.

    “The repurchase authorization demonstrates our confidence in RealD’s future and our commitment to maximizing shareholder value,” says ReadD Chairman and CEO, Michael V. Lewis, in today’s announcement.

    Trading at 11.63 on the NYSE under the RLD ticker symbol at the time of writing, RealD says that as of yesterday, it had approximately $30 million in cash and cash equivalents and unused borrowing capacity was approximately $100 million. The Company has approximately 54.6 million shares of common stock outstanding. Its share buyback will be fuelled by a new $125 million credit facility, also announced today.