FlexShopper, Inc. Announces Share Repurchase Program
May 22 2023 - 4:30PM
FlexShopper, Inc. (Nasdaq: FPAY) (“FlexShopper”), a leading
national online lease-to-own retailer and financing solutions
provider for underserved consumers, today announced that its board
of directors has authorized a share repurchase program to acquire
up to $2 million of the Company’s common stock. The Company may
purchase common stock on the open market, through privately
negotiated transactions, or by other means including through the
use of trading plans intended to qualify under Rule 10b-18 under
the Securities Exchange Act of 1934, as amended, in accordance with
applicable securities laws and other restrictions. The timing and
total amount of stock repurchases will depend upon business,
economic and market conditions, corporate and regulatory
requirements, prevailing stock prices, and other considerations.
The share repurchase program will have a term of eighteen (18)
months and may be suspended or discontinued at any time and does
not obligate the company to acquire any amount of common stock. The
Company had approximately 21.8 million shares of common stock
outstanding as of May 22, 2023.
About FlexShopper
FlexShopper, Inc. (FPAY) is a financial
technology company that provides electronics, home furnishings and
other durable goods to underserved consumers on a lease-to-own
(LTO) basis through its patented e-commerce marketplace
(www.FlexShopper.com). FlexShopper also provides LTO and loan
technology platforms to a growing number of retailers and
e-retailers to facilitate transactions with consumers without
access to traditional financing.
Forward-Looking Statements
All statements in this release that are not
based on historical fact are “forward-looking statements” within
the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Forward-looking
statements, which are based on certain assumptions and describe our
future plans and strategies, are generally noted in the risks and
uncertainties described in the Risk Factors and in Management’s
Discussion and Analysis of Financial Condition and Results of
Operations sections of our Annual Report on Form 10-K and
subsequently filed Quarterly Reports on Form 10-Q. The
forward-looking statements made in this release speak only as of
the date of this release, and FlexShopper assumes no obligation to
update any such forward-looking statements to reflect actual
results or changes in expectations, except as otherwise required by
law.
Contact:
FlexShopper, Inc.Investor
Relationsir@flexshopper.com
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