Flexshopper, inc. announces share repurchase program

Boca raton, fla., may 22, 2023 (globe newswire) -- flexshopper, inc. (nasdaq: fpay) (“flexshopper”), a leading national online lease-to-own retailer and financing solutions provider for underserved consumers, today announced that its board of directors has authorized a share repurchase program to acquire up to $2 million of the company's common stock. the company may purchase common stock on the open market, through privately negotiated transactions, or by other means including through the use of trading plans intended to qualify under rule 10b-18 under the securities exchange act of 1934, as amended, in accordance with applicable securities laws and other restrictions. the timing and total amount of stock repurchases will depend upon business, economic and market conditions, corporate and regulatory requirements, prevailing stock prices, and other considerations. the share repurchase program will have a term of eighteen (18) months and may be suspended or discontinued at any time and does not obligate the company to acquire any amount of common stock. the company had approximately 21.8 million shares of common stock outstanding as of may 22, 2023.
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