TechFlow, November 3 — According to GLOBE NEWSWIRE, ZOOZ Strategy Ltd. (NASDAQ and Tel Aviv Stock Exchange: ZOOZ), a BTC treasury company, announced that its board of directors has approved a share repurchase program to buy back up to $50 million of its outstanding shares, subject to relevant regulatory requirements.
The 12-month repurchase program allows the company to repurchase shares from time to time through open market purchases, negotiated transactions, or other methods. The program does not obligate the company to acquire any specific number of shares and may be suspended or terminated at any time. Under Israeli corporate law, the company must wait 30 days after publishing a notice to creditors before commencing repurchases.
Jordan Fried, CEO of ZOOZ Strategy, said: "As we pursue our goal of holding the largest Bitcoin position in the Middle East, at times repurchasing our own shares may be the best use of capital." As of October 30, the company held 1,036 bitcoins, valued at $116.8 million.
