Benzinga | Dec 1, 2021 08:17AM EST

GAN Plans $5M Stock Buyback Program

* GAN Ltd's (NASDAQ:GAN) Board of Directors has authorized a share repurchase program which permits the company to purchase up to an aggregate of $5 million of its ordinary shares.

* Share repurchases under the new authorization will begin immediately, and the program will expire on May 31, 2022.

* The company will repurchase the shares with cash on hand and cash from operations.

* GAN held $50.3 million in cash and equivalents as of September 30, 2021.

* Price Action: GAN shares closed lower by 3.69% at $9.67 on Tuesday.