C1 Fund authorizes $3 million share repurchase program

C1 Fund Inc. (NYSE: CFND) announced its board of directors authorized a share repurchase program allowing the company to buy back up to $3 million of its common shares.

The closed-end investment fund may purchase shares in the open market through registered broker-dealers, subject to market conditions and regulatory requirements. The program runs through December 31, 2027, unless extended by the board.

The board approved the repurchase program as part of ongoing capital management evaluations, including options that may enhance shareholder value and potentially reduce the discount between the market price of shares and the fund's net asset value per share.

Share repurchases may occur at prices below net asset value, which could result in incremental accretion to the fund's net asset value and may provide additional liquidity in trading. The company stated there is no assurance it will repurchase any shares under the program.

C1 Fund has not previously repurchased any of its common shares, according to the company's statement.

The fund provides public-market investors access to private and late-stage digital asset technology and services companies, including Kraken, Ripple and ConsenSys.

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