State-of-the-art advanced manufacturer specializing in additive 3D Metal Printing and advanced manufacturing technologies, 3DX Industries Inc (OTCMKTS:DDDX) on October 3, 2022, announced a share buyback program.
3DX Industries Announces Share Buyback Program
The Board of Directors of the company authorized a fresh share repurchase program of about 7,266,666 shares of its common stock in the next 11 months with a maximum price of $25.00 per share. The fresh program will take effect from November 1, 2022, under its 10-b5 plan and run till August 30, 2023.
3DX Industries has retained Glendale Securities in Sherman Oaks, California, which is a licensed FINRA Broker Dealer for implementing a share buyback program.
The Board’s authorization of a fresh repurchase program builds on the firm’s commitment to add value to long-term shareholders. This is being done by lowering the outstanding shares.
Roger Janssen, CEO, and President of 3DX Industries, Inc said that the company’s share repurchase program demonstrates confidence in the firm’s future performance as well as long-term cash flow generation.
Nicholas Coriano, Director & Vice President said that the re-purchase plan underscores the commitment to augment shareholder value. The buyback program will be implemented by a third party in accordance with Securities Regulations. All purchases under the Plan will comply with provisions of Rule 10b-18 of The Securities Exchange Act of 1934.
Key Quote
“Our share repurchase program reflects the Board’s confidence in the Company’s future performance and its long-term cash flow generation,” said Roger Janssen, CEO, and President of 3DX Industries, Inc. Nicholas Coriano, Director & Vice President, added, “This re-purchase plan underscores our continued commitment to increasing shareholder value.”
Technical Data
DDDX stock is trading below the 20-Day and 50-Day Moving averages of $0.0488 and $0.0535 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0716.
