Stingray Announces $15.4 Million Share Buyback

• Stingray executed a private share repurchase of 1,000,000 shares from major shareholder La Caisse at $15.40 per share, totaling $15.4 million, funded entirely from existing cash reserves.
• The repurchase price carries a 5.1% discount to the TSX closing price on June 18, 2026.
• Concurrently, La Caisse is offloading 2,300,000 shares (~4.2% of outstanding) via a block trade underwritten by National Bank Financial and Desjardins Capital Markets for portfolio rebalancing.
• The transaction was exempted from standard issuer bid requirements and will not count against Stingray’s normal course issuer bid limit. La Caisse will retain a ~10% stake post-transaction.
• Management frames the move as part of active capital management, emphasizing debt-reduction targets and preserved flexibility for strategic acquisitions.

The $15.4M discounted buyback is a routine capital return measure, executed at a 5.1% discount and funded by cash. It does not alter the business model or growth trajectory. The concurrent block trade by La Caisse offsets net buying pressure. The stock's +6.7% run into the print indicates the market had already priced in continued TuneIn execution and management's capital discipline. The underlying facts (synergy beats, FCF generation) support the positive sentiment, but the news itself adds no new alpha. The rating remains Routine - Positive.

Stingray Group Inc. is a Canadian media and audio entertainment company operating across three primary verticals: radio broadcasting, in-store audio advertising, and digital audio streaming via its TuneIn platform. The company has aggressively pivoted toward digital and retail media, expanding its automotive infotainment partnerships (Nissan, BYD) and FAST channel offerings. Management is focused on consolidating the fragmented audio advertising market while monetizing TuneIn's 75M+ monthly active users.