Bitcoin Treasury Company Launches Share Repurchase Program to Address Nasdaq Delisting Pressure

【BlockBeats】The Bitcoin crypto treasury company KindlyMD, listed on the US stock market, announced a major move — the board of directors has authorized a share repurchase plan.

According to the newly approved plan, the company can conduct buybacks through various channels, including open market purchases, private negotiations, block trades, and more. These operations will be strictly executed in accordance with the relevant rules of the Securities Exchange Act of 1934 and may also be carried out under a 10b5-1 trading plan.

Interestingly, the timing, scale, and method of the buyback will ultimately be determined by management. They will consider market conditions, stock performance, trading volume, capital needs, regulatory and environmental factors, and make flexible decisions. The board of directors reserves the right to modify, suspend, or even terminate the plan at any time, providing the team with ample operational flexibility.

However, it is worth noting that KindlyMD is currently facing delisting risk on NASDAQ — the stock price has been below $1 for 30 consecutive trading days. In this context, launching a buyback plan can be seen as a positive signal from management to stabilize the stock price and maintain its listing status.