DeFi Development Raises Stock Buyback Program From $1 Mln To $100 Mln; Stock Up In Pre-market

(RTTNews) - DeFi Development Corp. (DFDV), an AI-powered online platform, on Wednesday announced that today announced that its Board has approved an increase to the its existing stock repurchase program, expanding the authorization from $1 million to up to $100 million of stock.

The company said the repurchase authorization gives flexibility to acquire up to $100 million of stock, with an initial $10 million threshold requiring management to notify the Board before executing additional purchases.

The repurchased shares will be retired or held as treasury stock.

In the pre-market trading, DeFi Development is 4.10% higher at $15.73 on the Nasdaq.