Blackboxstocks Announces Stock Repurchase Program of up to $2.5 Million
January 10 2022 - 8:30AM
Business Wire
Blackboxstocks Inc. (NASDAQ: BLBX) (“Blackbox”), a financial
technology and social media hybrid platform offering real-time
proprietary analytics for stock and options traders of all levels,
today announced that the Company’s Board of Directors has approved
a stock repurchase program for up to $2.5 million of the Company’s
common stock.
The repurchase plan will expire on December 31, 2022. The timing
and actual number of shares repurchased will depend on a variety of
factors including but not limited to share price, trading volume,
general business and market conditions as well as other potential
investment opportunities. The repurchase program will be executed
consistent with the Company’s capital allocation strategy, which
will continue to prioritize aggressive investments to grow the
business.
“This stock repurchase program demonstrates management’s
confidence in our business prospects and enables us to purchase
shares at what we believe to be a significant discount to their
intrinsic value,” said Robert Winspear, Chief Financial Officer of
Blackboxstocks. “We believe we can leverage the strength of our
balance sheet to execute this plan without impeding any of our
growth initiatives.”
Under the repurchase program, repurchases can be made from time
to time using a variety of methods, including open market
purchases, all in compliance with the rules of the United States
Securities and Exchange Commission and other applicable legal
requirements.
The repurchase program does not obligate the Company to acquire
any specific amount of the Company’s common stock, and may be
suspended, modified or discontinued at any time at the Company’s
discretion.
About Blackboxstocks, Inc.
Blackboxstocks, Inc. is a financial technology and social media
hybrid platform offering real-time proprietary analytics and news
for stock and options traders of all levels. Our web-based software
employs “predictive technology” enhanced by artificial intelligence
to find volatility and unusual market activity that may result in
the rapid change in the price of a stock or option. Blackbox
continuously scans the NASDAQ, New York Stock Exchange, CBOE, and
all other options markets, analyzing over 10,000 stocks and up to
1,500,000 options contracts multiple times per second. We provide
our users with a fully interactive social media platform that is
integrated into our dashboard, enabling our users to exchange
information and ideas quickly and efficiently through a common
network. We recently introduced a live audio/screenshare feature
that allows our members to broadcast on their own channels to share
trade strategies and market insight within the Blackbox community.
Blackbox is a SaaS company with a growing base of users that spans
42 countries; current subscription fees are $99.97 per month or
$959.00 annually. For more information, go to:
www.blackboxstocks.com
Safe Harbor Statement
Our prospects here at Blackboxstocks are subject to
uncertainties and risks. This press release contains
forward-looking statements that involve substantial uncertainties
and risks. These forward-looking statements are based upon our
current expectations, estimates and projections about our business,
and reflect our beliefs and assumptions based upon information
available to us at the date of this press release. In some cases,
you can identify these statements by words such as “if,” “may,”
“might,” “will, “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential,” “continue,” and
other similar terms. These forward-looking statements include,
among other things, plans for proposed operations, descriptions of
our strategies, our product and market development plans, and other
objectives, expectations and intentions, the trends we anticipate
in our business and the markets in which we operate, and the
competitive nature and anticipated growth of those markets. We
caution readers that forward-looking statements are predictions
based on our current expectations about future events. These
forward-looking statements are not guarantees of future performance
and are subject to risks, uncertainties and assumptions that are
difficult to predict. Our actual results, performance or
achievements could differ materially from those expressed or
implied by the forward-looking statements as a result of a number
of factors including, but not limited to, the risks and
uncertainties discussed under risk factors in our registration
statement on Form S-1, as amended (File No. 333- 260065) as well as
our other filings with the SEC. We undertake no obligation to
revise or update any forward-looking statement for any reason.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220110005208/en/
Investors@blackboxstocks.com John McNamara TraDigital IR
1-917-658-2602 john@tradigitalir.com
BlackBoxStocks (NASDAQ:BLBX)
Historical Stock Chart
From May 2024 to Jun 2024
BlackBoxStocks (NASDAQ:BLBX)
Historical Stock Chart
From Jun 2023 to Jun 2024