Izea Worldwide, Inc. (NASDAQ:IZEA) announced Friday that it has entered into an agreement with Ladenburg Thalmann & Co. Inc. to repurchase up to $8.6 million of its common stock.
The agreement allows Ladenburg to purchase shares on Izea’s behalf in the open market or through privately negotiated transactions, beginning Monday and continuing until the earliest of November 13, 2026, the completion of the repurchase amount, or certain other specified events.
The repurchase plan was adopted under the safe harbor provisions of Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934. The authorization covers the remaining obligation under Izea’s previously disclosed share repurchase program.
The timing and number of shares to be repurchased will depend on market conditions and will be determined by management.
