AVAX One authorizes $40 million share repurchase program

AVAX One Technology Ltd. (NASDAQ: AVX) announced that its board of directors has authorized a share repurchase program of up to $40 million of the company's common stock.

The program has a one-year term and allows repurchases through open market purchases or other means permitted under applicable securities laws and regulations. The timing and amount of repurchases will depend on market conditions, regulatory requirements, capital allocation alternatives, and other corporate considerations.

"This new share repurchase program reflects the Company's conviction in our long-term strategy and the value we are creating for stockholders," said Jolie Kahn, Chief Executive Officer of AVAX One. "At current levels, we see repurchasing our stock as a compelling use of capital that delivers meaningful returns and underscores the strength of the business."

The company is not obligated to repurchase any specific number of shares, and the program may be suspended or discontinued at any time. The board will periodically review the repurchase program and may decide to extend its term or increase the authorized amount.

AVAX One Technology Ltd. is a public company that provides regulated access to the Avalanche (AVAX) ecosystem. The company's strategy focuses on building a digital-asset treasury and investing in decentralized financial technologies that benefit from the Avalanche network.

The information is based on a company press release statement.

You May Also Be Interested In

• Offerpad implements 1-for-10 reverse stock split effective June 8
• AmperCap Acquisition raises $125 million in NASDAQ IPO
• InMed Pharmaceuticals regains nasdaq listing compliance