George Stevens, Advanced Technetix's Chief Executive Officer, said, "We will likely be engaging in this stock reacquisition because we strongly feel that there are too many shares outstanding, that the stock is currently a very good value, and that this will enable us to continue our current product-led growth strategy. As such, this will bolster the remaining outstanding shares and provide a more concentrated shareholder base." Details of the transaction will be announced within the next 30 days, once the documents are prepared and executed.
