Bitcoin Treasury company ZOOZ Strategy announced the launch of a $50 million stock buyback program
BlockBeats News, November 3rd, Israeli-listed Bitcoin treasury company ZOOZ Strategy Ltd. announced today that its board of directors has approved the initiation of a stock repurchase program, intending to repurchase up to a maximum of $50 million of the company's outstanding common stock, subject to regulatory requirements.
The stock repurchase program has a duration of 12 months and may be executed by the company through various means on a non-periodic basis, including open market purchases, negotiated transactions, or other methods in compliance with applicable laws. The company stated that the program does not mandate the repurchase of a specific number of shares, and the company may voluntarily decide to suspend or terminate the program at any time.
In accordance with the Israeli Regulations for Facilitating the Trading of Securities of a Company Listed Outside Israel (5760-2000) and the Approval of Distribution Regulations (5761-2001), the company must wait for 30 days after notifying creditors before formally initiating the repurchase.
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