Charles & Colvard, Ltd. announces an Equity Buyback for $5 million worth of its shares.
May 05, 2022 at 07:40 am EDT
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Charles & Colvard, Ltd. (NasdaqCM:CTHR) announces a share repurchase program. Under the program, the company will repurchase up to $5 million worth of its shares. The program will be funded by cash on hand and cash generated by operations.
The repurchased shares will be held as treasury stock. The program will expire on April 29, 2025.
Charles & Colvard, Ltd. is a fine jewelry company that specializes in moissanite and lab grown diamonds. The Company operates through two segments: Online Channels and Traditional. The Online Channels segment consists of e-commerce outlets, including charlesandcolvard.com, moissaniteoutlet.com, third-party online marketplaces, drop-ship retail, and other pure-play, exclusively e-commerce outlets. The Traditional segment consists of wholesale and retail customers, including its own Charles & Colvard Signature Showroom and charlesandcolvarddirect.com. The Company manufactures, markets, and distributes Charles & Colvard Created Moissanite and finished jewelry featuring moissanite, including Forever One, the Companyâs premium moissanite gemstone brand, for sale in the worldwide fine jewelry market. The Company also markets and distributes Caydia lab grown diamonds and finished jewelry featuring lab grown diamonds for sale in the worldwide fine jewelry market.
CHARLES & COLVARD, LTD. 
