Cascade Microtech, Inc. (CSCD) said its Board of Directors has authorized a new stock repurchase program, under which it may repurchase up to $15 million of its common stock from time to time, on the open market or in privately negotiated transactions.
This new program replaces the stock repurchase program authorized by the company's Board of Directors in November 2012, which has been discontinued and had approximately $2.5 million of repurchase authority remaining.
The company expects to fund repurchases under the program from available cash.
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