Reitar Logtech launches $3M share repurchase program

Reitar Logtech Holdings Limited (NASDAQ: RITR) announced that its board of directors has authorized a share repurchase program allowing the company to buy back up to $3 million of its outstanding Class A ordinary shares.

According to a press release, repurchases may be conducted through open market transactions, privately negotiated deals, block trades, or other legally permissible methods, depending on market conditions and applicable regulations. Open-market repurchases will comply with Rule 10b-18 and/or Rule 10b5-1 under the U.S. Securities Exchange Act of 1934.

The company said management will determine the timing and dollar amount of repurchases based on market and business conditions, available liquidity, cash requirements, and regulatory limitations. The program does not obligate the company to repurchase any specific number of shares and may be suspended, modified, or discontinued at any time without prior notice. The company said it expects to fund repurchases using existing cash balances.

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