On August 12, 2025, the Board approved a $50 million common stock repurchase program. Under the Program, the Company may purchase up to $50 million of its outstanding shares of common stock, par value $0.001 per share, from time to time in the open market, including through block purchases, through privately negotiated transactions or pursuant to any Rule 10b5-1 trading plan, in accordance with applicable securities laws. On August 12, 2025, the Board also approved a reverse stock split of the Company’s outstanding shares of Common Stock at a ratio of one-for-five. The Reverse Stock Split is expected to take effect as of 5:00 p.m. Eastern Time on September 19, 2025.
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