AudioEye, Inc. (NASDAQ: AEYE) (the “Company”), the industry-leading digital accessibility platform delivering website accessibility compliance to businesses of all sizes, today announced that its Board of Directors (the “Board”) has authorized the repurchase of up to $3 million of the Company’s outstanding shares of common stock expiring on June 30, 2024. The Company intends to fund the stock repurchase program with working capital and cash from operations.
“We remain committed to strategically deploying capital that will drive the greatest value for stockholders. This stock repurchase program reflects the strength of our business and our confidence in our future cash flow,” said David Moradi, CEO at AudioEye.
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The Company may repurchase stock from time to time in open market transactions or through privately negotiated transactions in accordance with applicable federal securities laws and other applicable legal requirements. The timing and amounts of any purchases under the stock repurchase program will be based on market conditions and other factors, including price. The stock repurchase program may be suspended or discontinued at any time and does not obligate the Company to repurchase any dollar amount or particular number of shares of stock.
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