Quest Software was one of the only tech companies whose stock price was up after Thursday’s holocaust and that was because it said Wednesday that it would buy back $135 million-$400 million worth of stock through a modified Dutch auction tender offer with an expected price of $13.25-$15.50 a share, a 25%-47% premium. That represents 9%-26% of its outstanding shares.

It also said it was switching CEOs naming president Doug Garn to replace incumbent Vinny Smith who becomes executive chairman, a new title responsible for the company’s strategic direction.

It intends to use cash on hand and $300 million in debt financing to fund the buyback. Of course it might be hard to raise that financing given current circumstances.