Quite simply put the the return on buying the shares at that price represent a higher return compared to the funds sitting in a bank account. These funds are in excess meaning that no growth opportunities are missed by doing this, otherwise the company wouldn't be doing it. A SBB is only effective when there is a disconnect between price and value. You don't have to take my word for it, see what Graham, Buffet, Munger et el say about the topic.
I still think there are a number of people who funamentally don't understand how a SBB works. Much like investors who don't seem phased by capital raises, it's the same thing in reverse. The difference here is our upside compounds as existing investors, compared to dilution where the opposite occurs.
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