FlexShopper, Inc. (FPAY)'s board of directors has authorized a share repurchase program to acquire up to $2 million of its common stock
Buybacks
May 23, 2023
FlexShopper, Inc. (FPAY)'s board of directors has authorized a share repurchase program, allowing FlexShopper to acquire up to $2 million of its common stock.
FlexShopper's board of directors has given the green light to a share repurchase program, which enables the company to buy back its common stock. Under this program, FlexShopper has the flexibility to acquire shares through various means, including open market purchases, privately negotiated transactions, or trading plans designed to comply with applicable regulations. The repurchase program will operate within the guidelines set forth by Rule 10b-18 under the Securities Exchange Act of 1934, as amended, ensuring compliance with relevant securities laws and restrictions.
FlexShopper's decision to implement a share repurchase program takes into account several key factors. The timing and total amount of stock repurchases will be influenced by a range of considerations, including prevailing stock prices, market conditions, corporate and regulatory requirements, and overall business and economic conditions. By evaluating these variables, FlexShopper aims to optimize the benefits of its stock repurchases.
FlexShopper's share repurchase program will have a term of eighteen (18) months, allowing the company ample time to execute the buybacks. However, it is important to note that the program is subject to suspension or discontinuation at any time. The company is not obliged to acquire any specific amount of common stock, providing FlexShopper with the flexibility to adapt its repurchase activities to changing circumstances.
Members of LevelFields received the alert of this event on May 22, 4:55 PM ET
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