- Greystone Logistics (GLGI, Financial) completes $5 million Preferred Stock redemption.
- The company purchases 620,052 shares through a stock buyback program.
- All transactions were funded using available cash on hand.
Greystone Logistics, Inc. (GLGI), a leading manufacturer of 100% recycled plastic pallets, has announced the successful completion of two major financial initiatives aimed at enhancing shareholder value. The company has redeemed $5 million worth of Preferred Stock and has executed a buyback of 620,052 shares of its common stock. These transactions were financed through existing cash reserves, underscoring Greystone's robust liquidity and commitment to optimizing its capital structure.
Warren Kruger, CEO of Greystone Logistics, emphasized the significance of these moves by stating, "Our team at Greystone continues the company’s commitment to strengthening our capital structure and enhancing shareholder value utilizing cash on hand." The announcement strategically precedes Greystone's participation in the Planet MicroCap Showcase at VEGAS 2025, an event where the company plans to engage with potential investors and stakeholders, reinforcing its corporate message and exploring future opportunities.
As a green manufacturing company, Greystone Logistics focuses on sustainability by producing high-quality 100% recycled plastic pallets, catering to diverse industries such as food and beverage, automotive, and pharmaceuticals. The firm's proprietary blend of recycled plastic resins allows for the cost-effective production of pallets, providing an economic and environmentally friendly alternative to virgin resin users.
