Oblong, Inc. (OBLG, Financial) has unveiled a new stock repurchase initiative, which will allow the company to buy back up to $500,000 of its common shares. This move represents an opportunity for Oblong to potentially reacquire about 25% of its approximately 1.1 million outstanding shares based on current market conditions.
The company indicated that it plans to finance these buybacks either through its current cash reserves or by utilizing future cash inflows. The share repurchases might occur through various methods, including open market operations, private deals, or possibly through Rule 10b5-1 trading plans.
