Benzinga | Jun 23, 2021 01:57PM EDT

Alfi Confirms $2M Share Repurchase Program Reported Tuesday

Alfi, Inc. (NASDAQ:ALF) ("Alfi" or the "Company"), an AI enterprise SaaS platform company powering computer vision with machine learning models to allow content publishers and brand owners to deliver interactive, intelligent information without violating user privacy, today announced that its Board of Directors authorized a share repurchase program for up to $2 million of its outstanding common stock.

"We are committed to enhancing stockholder value and approach this objective with a firm belief and respect for our shareholder base," said Paul Pereira, CEO of Alfi. "In keeping with this objective, today we are announcing a stock repurchase program of up to $2 million. We are a young company with a big opportunity to grow and increase our valuation. Our balance sheet has benefited from the exercise of some of the warrants associated with our IPO, and our conviction in our future prospects makes this an appropriate time to repurchase stock and return capital to stockholders."

Purchases under the share repurchase program may be made from time to time in the open market, through block trades, the Company's 10b5-1 plan or privately negotiated transactions in accordance with applicable laws, rules and regulations. The timing of the purchases and the amount of stock repurchased will depend on market and business conditions, stock price, applicable legal requirements and other factors. The share repurchase program does not commit the company to repurchase shares of its common stock and it may be amended, suspended or discontinued at any time without prior notice at Alfi's discretion.