Marti Technologies to extend share repurchase program

Marti Technologies announced an amendment to extend its share repurchase program. The company’s Board of Directors authorized a six month extension to its share repurchase program under which the company may repurchase up to $2.5M of its outstanding Class A ordinary shares until April 9, 2025. The share repurchase program was originally initiated on January 10, 2024 and was previously amended to extend the term until October 9, 2024. In addition, the Board amended the ceiling price from $3.30 per share to up to $5.00 per share for the share repurchases. As of market close on October 8, 2024, the company’s share price was $2.04. The amended repurchase program is effective immediately and is valid until April 9, 2025.