Astrotech Corp. (ASTC)

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Astrotech Board Authorizes Repurchase of up to $5Million of the Company's Outstanding Common Stock

Astrotech Corporation (ASTC) a company that specializes in the commercialization of valuable space and defense technologies for uses in industrial process control, explosives detection, research and healthcare markets, today announced that its Board of Directors has approved a share repurchase program authorizing the company to repurchase up to $5.0 million of its common stock through December 31, 2015.

“Astrotech is committed to delivering shareholder returns,” said Thomas B. Pickens III, Chairman and CEO. “Our Board of Directors and our Management Team believe repurchasing stock at recent trading levels represents compelling value,” Pickens added.

Repurchases under the share repurchase program may be made from time to time through open market transactions, privately negotiated transactions or otherwise, as determined by the company’s management depending on market conditions and business needs, in compliance with federal securities laws. The share repurchase program does not obligate the Company to purchase any particular amount of common shares, and it may be suspended, discontinued or modified at any time at the Company’s discretion and without prior notice.

Astrotech had approximately 19,697,627 shares of common stock outstanding as of November 7, 2014.