GAN Plans $5M Stock Buyback Program

GAN Ltd's GAN Board of Directors has authorized a share repurchase program which permits the company to purchase up to an aggregate of $5 million of its ordinary shares.
Share repurchases under the new authorization will begin immediately, and the program will expire on May 31, 2022.
The company will repurchase the shares with cash on hand and cash from operations.
GAN held $50.3 million in cash and equivalents as of September 30, 2021.
Price Action: GAN shares closed lower by 3.69% at $9.67 on Tuesday.