RTTNews | Dec 2, 2021 10:23AM EST

10:22 Thursday, December 2, 2021 (RTTNews.com) - ON24, Inc. (ONTF) shares are rising on Thursday morning trade after the cloud-based hybrid engagement platform announced an authorization to repurchase up to $50 million common stock. The repurchase program will be funded from the company's existing cash and cash equivalents or future cash flow. The authorization has an 18-month term and ON24 expects to extend over multiple quarters.

Currently, ONTF shares are at $16.30, up 7.04 percent from the previous close of $15.20 on a volume of 571,424. For the 52-week period, the shares have traded in a range of $15.07-$81.98 on average volume of 799,772.

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