Lite Strategy announces $25M share repurchase program

Lite Strategy (LITS)announced its Board of Directors has authorized a program to repurchase shares of the Company’s Common Stock, par value $0.00000002 per share, up to an aggregate amount of $25 million. The share repurchase program is effective immediately, and provides for shares to be repurchased in the open market or through negotiated transactions. “Our top priority is to enhance stockholder value,” said Board Member Joshua Riezman, U.S. Chief Strategy Officer at GSR, which is advising the Company on its treasury strategy, “and the share repurchase program is one of the tools LITS can now use to optimize its nearly 1 million Litecoin treasury and deliver potentially accretive returns to stockholders. When LITS trades at a material discount to mNAV, we have the ability to use the repurchase program to step in and buy back shares. Conversely, when the stock trades at a premium to mNAV, we can use our existing at-the-market offering program to sell stock in order to raise capital to acquire additional Litecoin over the long-term. This disciplined flexibility has the potential to set true active digital asset treasury companies apart from passive structures like exchange-traded funds, by being able to adapt and monetize changing market conditions.”