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Allied Esports Entertainment Adopts $10M Stock Buyback Program

Allied Esports Entertainment Inc (NASDAQ:AESE) Board of Directors has authorized a stock repurchase program of up to $10 million of its…
byShivani Kumaresan
November 21, 2022
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  • 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.
 
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