Summary by Futu AI
On October 21, 2024, Mynd.ai, Inc., a global leader in interactive technology, announced the authorization of a share repurchase program by its Board of Directors. The program allows for the repurchase of up to $10 million of the company's American depositary shares (ADSs) and/or ordinary shares. The timing and volume of repurchases will be contingent on market conditions and the company's liquidity, and may be executed through open-market purchases, privately negotiated transactions, or other means in compliance with securities laws. The repurchase program is part of Mynd's strategic initiatives to enhance shareholder value, following the recent sale of a non-strategic business for $20 million. The company's CEO, Vin Riera, expressed confidence in the strength of the business and its financial position. The repurchase activities may commence or be suspended at any time without prior notice, and there is no guarantee as to the number of shares that will be repurchased.