Ispire Technology Inc. announced that its Board of Directors has approved a stock repurchase program, authorizing the company to repurchase up to $10 million of its common stock. This program is set to be executed over the next 24 months, demonstrating a commitment to shareholder value.
The repurchases may occur through various methods, including open market transactions, accelerated share buyback programs, tender offers, or privately negotiated transactions. The timing and amount of these repurchases will be determined by the Board based on market conditions and other factors.
Michael Wang, Co-Chief Executive Officer, stated that the repurchase authorization reflects confidence in the company's overall business growth and strategic investments. He added that the program is an opportunity to buy common stock at a significant discount to its intrinsic value, leveraging improved margins to return capital to shareholders.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.