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Allied Esports Entertainment Adopts $10M Stock Buyback Program

Author: Shivani Kumaresan | November 21, 2022 10:55am

Allied Esports Entertainment Inc (NASDAQ:AESE) Board of Directors has authorized a stock repurchase program of up to $10 million of its outstanding shares.
The manner, timing and amount of any purchase will be based on an evaluation of market conditions, stock price and other factors.
The company expects to complete the buyback program over the next 24 months and fund it with its working capital.
Repurchases under the program will be made in open market transactions in compliance with the Securities and Exchange Commission Rule 10b-18 and federal securities laws.
AESE held $89.2 million in cash and equivalents as of September 30, 2022.
Price Action: AESE shares are trading higher by 5.50% at $1.33 on the last check Monday.

Posted In: AESE