Oblong announces authorization of $500K stock buyback program

Oblong (OBLG) announced its board authorized a stock buyback program to repurchase up to $500K of the company’s common stock. The company said the program could enable it to repurchase up to approximately 25% of its 1.1M shares outstanding at current market prices. Oblong stated repurchases may be funded using its existing cash balance or future cash flows and may be made via open market, private transactions, or other means, including potential Rule 10b5-1 trading plans.