Oblong Signals Confidence with $500K Stock Buyback Program

April 22, 2025

DENVER, Colo., Apr 22, 2025 (247marketnews.com)- Oblong (NASDAQ:OBLG) reported that its Board of Directors greenlit a $500,000 stock buyback program, underscoring management’s belief that its shares are significantly undervalued. With a tight float of approximately 0.9 million shares and 1.1 million shares outstanding, the program could see Oblong repurchase up to 25% of its common stock at current market prices, making it a focal point for traders seeking low-float opportunities.

Peter Holst, Oblong’s CEO, commented, “I’m pleased to announce our Board’s authorization of a $500,000 stock buyback program, which demonstrates our confidence in the Company’s intrinsic value and our commitment to shareholders. With a strong balance sheet, including $5.0 million in cash and no debt as of December 31, 2024, we are well-positioned to execute opportunistic share repurchases while pursuing strategic growth opportunities, including potential M&A driven by our focus on transformative SaaS and AI-enabled businesses.”

The buyback, funded by Oblong’s robust $5 million cash balance as of December 31, 2024, will leverage existing cash or future cash flows. Repurchases may occur via open market transactions, privately negotiated deals, or other methods compliant with securities laws, potentially including Rule 10b5-1 trading plans. The program’s flexibility allows Oblong to adjust or halt repurchases based on cash availability, market conditions, or stock pricing, with no obligation to acquire a fixed number of shares.

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (OBLG)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.