Marti Technologies announces up to $2.5M share repurchase program

Marti Technologies announced a share repurchase program. The cmpany’s Board of Directors authorized a share repurchase program under which the Company may repurchase up to $2.5M of its outstanding Class A ordinary shares, representing approximately 7.9% of the company’s market capitalization as of January 9, 2024 with a closing price of $0.6510. The repurchase program is effective immediately and is valid for a period of six months from such date. Under the Repurchase Program, the Company may repurchase Class A ordinary shares in privately negotiated or open-market transactions in accordance with applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The Board may periodically review the Company’s Repurchase Program and decide to extend its terms or increase the authorized amount. The Repurchase Program may also be suspended or discontinued by the Board at any time.