Allied Esports Entertainment Adopts $10M Stock Buyback Program
$AESE
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- Allied Esports Entertainment Inc (NASDAQ:AESE) Board of Directors has authorized a stock repurchase program of up to $10 million of its outstanding shares.
- The manner, timing and amount of any purchase will be based on an evaluation of market conditions, stock price and other factors.
- The company expects to complete the buyback program over the next 24 months and fund it with its working capital.
- Repurchases under the program will be made in open market transactions in compliance with the Securities and Exchange Commission Rule 10b-18 and federal securities laws.
- AESE held $89.2 million in cash and equivalents as of September 30, 2022.
- Price Action: AESE shares are trading higher by 5.50% at $1.33 on the last check Monday.