Kidz AI expands share repurchase program to $3.0 million

KIDZ AI Inc. (NASDAQ: KIDZ, NASDAQ: KIDZW), an education technology company, announced that its Board of Directors has authorized a 50% increase to its existing share repurchase program, raising the total from $2.0 million to up to $3.0 million.

According to a press release, the expansion follows an open letter to shareholders from Chief Executive Officer Stephanie Luo and what the company described as a positive market response to that letter.

The company may repurchase shares through open market purchases, block trades, or other methods in compliance with Rule 10b-18 of the Securities Exchange Act of 1934. The timing and volume of repurchases will be determined by management based on market conditions, share price, and liquidity needs.

The program does not obligate the company to acquire any specific number of shares and may be modified, suspended, or terminated at any time. The company noted that no assurance can be given that additional shares will be repurchased or that repurchases will occur at any particular pace.

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