Arrive AI (Nasdaq:ARAI) announced a share repurchase program of up to $10 million of the Company's common stock.
The program allows for repurchases in the open market, through negotiated transactions, or under Rule 10b5-1 trading plans.
The Board believes the current share price presents a compelling investment opportunity relative to the company's long-term prospects.
Share Repurchase Program
Authorized up to $10 million of common stock repurchases until March 31, 2026.
Reasoning Behind Authorization
Board views current share price as attractive in light of long-term opportunities.
Flexibility in Repurchase Methods
Repurchases may occur through various methods under Rule 10b-18, subject to market conditions.
Company CEO's Statement
Dan O'Toole highlights ARAI's undervaluation and the focus on building long-term shareholder value.
- The share repurchase program reflects the confidence of the Board in Arrive AI's potential growth and value.
- By allowing repurchases in different ways, the program provides flexibility to capitalize on favorable market conditions.
- This initiative aligns with the company's strategy to enhance shareholder value and signals confidence in the business's future success.
Arrive AI's $10 million share repurchase program underscores the company's confidence in its future growth and the belief in its current undervaluation. The program offers flexibility and aligns with the long-term value creation strategy, ultimately benefiting shareholders.