SeaChange board authorizes share repurchase program up to 750,000 shares

On November 17, 2023, the Board authorized the repurchase of up to 750,000 shares of the Company’s common stock with a cap of $2.25 million of the Company’s cash. This authorization was made after the Board’s careful consideration of the Company’s current and projected cash balance and determining that there are lawfully available funds to repurchase some of the Company’s common stock and the repurchase of such common stock will not render the Company’s cash flow or balance sheet insolvent nor impair the ability of the Company to continue as a going concern. The Board believes the stock repurchase program is advisable and in the best interests of the Company and its stockholders and represents a good investment of its excess cash.