Aspire-Lakewood Holdings authorizes $10 million stock buyback, completes name change
The company, formerly Aspire Biopharma Holdings, cited automotive subsidiary DCSC's revenue as support for the expanded repurchase program effective September 9, 2026.
Aspire-Lakewood Holdings, Inc. (Nasdaq: ASBP) announced on September 9, 2026 that its Board authorized a $10 million common stock repurchase program.1 This expanded share repurchase program is effective September 9, 2026.1
The company said the expanded authorization reflects the Company's continued confidence in its long-term strategy as a holding company and strong free cash flow generation.1 The filing noted that with common shares outstanding of approximately 1.5 million as of September 8, 2026, and adjusted EBITDA of approximately $22.3 million for 2025, or approximately $15.00 per share, the Board believes this is an opportunistic time to authorize an increase in the share repurchase program.1
The authorization follows the company's acquisition of Dura Control Systems Corp (DCSC), described as a premier tier-one global automotive supplier with a 100+ year legacy, specializing in high-margin electronic and mechanical control systems.1 According to the release, for the audited twelve months ended December 31, 2025, DCSC generated revenue of approximately $209.5 million and Adjusted EBITDA of $22.3 million.1 Additionally, for the unaudited six months ended June 30, 2026, DCSC delivered revenue of approximately $103.9 million and Adjusted EBITDA of $10.5 million.1
Separately, the accompanying 8-K disclosed a corporate name change. On September 8, 2026, Aspire Biopharma Holdings, Inc. filed a Certificate of Amendment to its Certificate of Incorporation with the Secretary of State of the State of Delaware to change the name of the Company to "Aspire-Lakewood Holdings, Inc.," effective September 8, 2026.1 The filing states the Company's common stock will continue to trade on The Nasdaq Capital Market, and the trading symbol on Nasdaq will remain the same ("ASPB").1 Notably, the press release itself lists the ticker as "ASBP," creating a discrepancy with the 8-K's stated symbol "ASPB."
Repurchases under the program may be made in open market or in privately negotiated transactions1 and do not require the Company to repurchase any specific number of shares, and the program does not have an expiration date and may be suspended or terminated at any time without prior notice.1
Written by readthrough’s AI from the linked primary sources and fact-checked against them automatically before publishing. Not investment advice.