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naii20220117_8k.htm
false 0000787253 0000787253 2022-01-18 2022-01-18
 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
Form 8-K
 
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
 
Date of Report (Date of earliest event reported): January 18, 2022
 
NATURAL ALTERNATIVES INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
 
Commission File Number:  000-15701
 
Delaware
 
84-1007839
(State or other jurisdiction of
 
(IRS Employer
incorporation)
 
Identification No.)
 
1535 Faraday Avenue, Carlsbad, CA 92008
(Address of principal executive offices, including zip code)
 
760-736-7700
(Registrant’s telephone number, including area code)
 
(Former name or former address, if changed since last report)
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
 
☐   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
Securities registered pursuant to Section 12(b) of the Exchange Act:
 
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
Common
NAII
NASDAQ
 
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
 
Emerging growth company ☐
 
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 
 
 
 
ITEM 7.01 REGULATION FD DISCLOSURE.
 
On January 18, 2022, NAI issued a press release announcing an increase in the authorized amount of its Stock Repurchase Plan. A copy of the press release is attached hereto as Exhibit 99.1 and incorporated by reference herein.
 
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
 
(d) Exhibits.
 
99.1
 
104
Cover Page Interactive Data File (embedded within the Inline XBRL document)
 
 
SIGNATURES
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Natural Alternatives International, Inc.
  a Delaware corporation  
Date:  January 17, 2022
By:
/s/ Mike Fortin
Mike Fortin, Chief Financial Officer
 
 
- 2 -
 
 
ex_324989.htm

Exhibit 99.1

 

https://cdn.kscope.io/b2762faa1b1d096d276ed2ef35cc8c8e-logo.jpg

 

Natural Alternatives International, Inc. Announces a $3 Million Increase

in its Stock Repurchase Plan

 

Carlsbad, Calif., January 18, 2022 /PRNewswire/ -- Natural Alternatives International, Inc. ("NAI") (Nasdaq: NAII), a leading formulator, manufacturer and marketer of customized nutritional supplements, today announced its Board of Directors authorized a $3.0 million increase to its stock repurchase plan bringing the total plan authorized repurchase amount to $18.0 million. Under the repurchase plan, NAI may, from time to time, purchase shares of its common stock, depending upon market conditions, in open market or privately negotiated transactions. To date, we have purchased 1.9 million shares under this repurchase plan, including the purchase of 237,000 shares since September 30, 2021, and after this increase we will have $3.0 million available for stock repurchases under the plan.

 

Mark A. Le Doux, Chairman and Chief Executive Officer of NAI stated, “Since the inception of our stock repurchase plan, we have purchased our shares at an average cost of less than $8 per share. We believe our stock continues to trade at levels significantly below the fair value of our company and we have increased our buyback authority to allow us to continue to purchase our shares. Our management team remains confident in our long-term success and the growth potential of our business. We have expanded our customer base over the last year, and work continues on our new manufacturing and warehouse facility in Carlsbad, CA that we anticipate will be fully operational in the Fall of 2022.”

 

NAI, headquartered in Carlsbad, California, is a leading formulator, manufacturer and marketer of nutritional supplements and provides strategic partnering services to its customers. Our comprehensive partnership approach offers a wide range of innovative nutritional products and services to our clients including scientific research, clinical studies, proprietary ingredients, customer-specific nutritional product formulation, product testing and evaluation, marketing management and support, packaging and delivery system design, regulatory review and international product registration assistance. For more information about NAI, please see our website at http://www.nai-online.com.

 

This press release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 that are not historical facts and information. These statements represent our intentions, expectations and beliefs concerning future events, including, among other things, the fair value of our company, the growth potential of our business, our ability to acquire our shares on a reasonable basis, development of our new manufacturing and warehouse facility, as well as future economic conditions and the impact of such conditions on our business. We wish to caution readers these statements involve risks and uncertainties that could cause actual results and outcomes for future periods to differ materially from any forward-looking statement or views expressed herein. NAI's financial performance and the forward-looking statements contained herein are further qualified by other risks including those set forth from time to time in the documents filed by us with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K.

 

CONTACT – Michael Fortin, Chief Financial Officer, Natural Alternatives International, Inc., at 760-736-7700 or investor@nai-online.com.

 

Web site: http://www.nai-online.com/

 

SOURCE Natural Alternatives International, Inc.