Nixxy Announces $10 Million Share Repurchase Program
Nixxy (NASDAQ:NIXX) has announced a $10 million share repurchase program authorized by its Board of Directors. The program is set to begin within 30 days and will span approximately 180 days. The company plans to fund the buyback through existing cash balances, retained and future earnings, and potential strategic investments.
According to Interim CEO Miles Jennings, the repurchase program is part of their broader capital allocation strategy and aims to provide additional flexibility while executing strategic priorities. The initiative aligns with Nixxy's objectives to optimize capital deployment and support long-term growth.
Nixxy (NASDAQ:NIXX) ha annunciato un programma di riacquisto di azioni da 10 milioni di dollari autorizzato dal suo Consiglio di Amministrazione. Il programma dovrebbe iniziare entro 30 giorni e durare circa 180 giorni. L'azienda prevede di finanziare il riacquisto attraverso i saldi di cassa esistenti, utili trattenuti e futuri, e potenziali investimenti strategici.
Secondo il CEO ad interim Miles Jennings, il programma di riacquisto fa parte della loro più ampia strategia di allocazione del capitale e mira a fornire ulteriore flessibilità nell'esecuzione delle priorità strategiche. L'iniziativa è in linea con gli obiettivi di Nixxy di ottimizzare l'impiego del capitale e supportare la crescita a lungo termine.
Nixxy (NASDAQ:NIXX) ha anunciado un programa de recompra de acciones de 10 millones de dólares autorizado por su Junta Directiva. El programa comenzará en un plazo de 30 días y se extenderá aproximadamente por 180 días. La empresa planea financiar la recompra a través de saldos de efectivo existentes, utilidades retenidas y futuras, y posibles inversiones estratégicas.
Según el CEO interino Miles Jennings, el programa de recompra es parte de su estrategia más amplia de asignación de capital y tiene como objetivo proporcionar flexibilidad adicional al ejecutar prioridades estratégicas. La iniciativa está alineada con los objetivos de Nixxy de optimizar el despliegue de capital y apoyar el crecimiento a largo plazo.
Nixxy (NASDAQ:NIXX)는 이사회에서 승인한 1천만 달러 규모의 자사주 매입 프로그램을 발표했습니다. 이 프로그램은 30일 이내에 시작되며 약 180일 동안 진행될 예정입니다. 회사는 기존 현금 잔액, 보유 및 미래 수익, 그리고 잠재적인 전략적 투자를 통해 매입 자금을 조달할 계획입니다.
임시 CEO인 마일스 제닝스에 따르면, 이 매입 프로그램은 더 넓은 자본 배분 전략의 일환이며 전략적 우선 사항을 실행하는 데 추가적인 유연성을 제공하는 것을 목표로 하고 있습니다. 이 이니셔티브는 Nixxy의 자본 배치 최적화 및 장기 성장 지원 목표와 일치합니다.
Nixxy (NASDAQ:NIXX) a annoncé un programme de rachat d'actions de 10 millions de dollars autorisé par son Conseil d'Administration. Le programme devrait commencer dans un délai de 30 jours et s'étendre sur environ 180 jours. L'entreprise prévoit de financer le rachat par le biais de soldes de trésorerie existants, de bénéfices retenus et futurs, ainsi que d'éventuels investissements stratégiques.
Selon le PDG par intérim Miles Jennings, le programme de rachat fait partie de leur stratégie globale d'allocation de capital et vise à offrir une flexibilité supplémentaire lors de l'exécution des priorités stratégiques. L'initiative s'aligne sur les objectifs de Nixxy d'optimiser l'utilisation du capital et de soutenir la croissance à long terme.
Nixxy (NASDAQ:NIXX) hat ein Aktienrückkaufprogramm über 10 Millionen Dollar angekündigt, das von seinem Vorstand genehmigt wurde. Das Programm soll innerhalb von 30 Tagen beginnen und etwa 180 Tage dauern. Das Unternehmen plant, den Rückkauf durch bestehende Bargeldbestände, einbehaltene und zukünftige Gewinne sowie potenzielle strategische Investitionen zu finanzieren.
Laut Interim-CEO Miles Jennings ist das Rückkaufprogramm Teil ihrer umfassenderen Kapitalallokationsstrategie und zielt darauf ab, zusätzliche Flexibilität bei der Umsetzung strategischer Prioritäten zu bieten. Die Initiative steht im Einklang mit Nixxys Zielen, die Kapitalverwendung zu optimieren und das langfristige Wachstum zu unterstützen.
- Board authorized $10M share repurchase program
- Company has sufficient cash reserves to fund buyback
- Program demonstrates confidence in company's financial position
- Capital allocation to buyback reduces funds available for growth investments
- 180-day program duration may limit price support effectiveness
Insights
Nixxy's $10 million share repurchase program represents an extraordinarily aggressive buyback at approximately
The funding mechanism raises immediate concerns. While the announcement mentions existing cash, retained earnings, future earnings, and strategic investments, it provides no specific details about Nixxy's current cash position. For a micro-cap company to commit to repurchasing over a third of its market value, investors should question whether this allocation optimizes shareholder value compared to alternatives like growth investments or debt reduction.
The 180-day implementation timeframe suggests a measured approach, but could create significant market impact given the company's size. Even modest daily repurchases could substantially influence trading dynamics and potentially reduce liquidity for remaining shareholders.
The announcement timing and approval by an interim CEO raise additional red flags. Major capital allocation decisions by temporary leadership typically warrant heightened scrutiny, as they may reflect short-term thinking rather than long-term strategic vision. The vague justification citing "flexibility" and "strategic priorities" without specific rationale further compounds these concerns.
This repurchase could signal management's belief that shares are undervalued, but could alternatively represent an attempt to support a declining stock price or reduce float to increase share price volatility. Without clear strategic context, investors should carefully evaluate whether this aggressive capital deployment truly serves their long-term interests.
NEW YORK, NY / ACCESS Newswire / February 26, 2025 / Nixxy, Inc. (NASDAQ:NIXX), the "Company" or "Nixxy", today announced that its Board of Directors has authorized the repurchase of up to
The Repurchase Program is planned to be initiated within the next thirty days and is expected to continue for approximately 180 days. Purchases will be funded through existing cash balances, retained and future earnings, and potential strategic investments.
"The Board has approved this repurchase program as part of our broader approach to capital allocation," said Miles Jennings, Interim Chief Executive Officer of the Company. "We believe this provides additional flexibility as we continue to execute on our strategic priorities."
About Nixxy, Inc.
Nixxy, Inc. (NASDAQ:NIXX) is committed to transforming traditional markets through cutting-edge technology and data-driven insights. By acquiring cornerstone businesses in established industries and evolving their operations with innovation, Nixxy unlocks new potential and creates opportunities for transformative growth. The company focuses on sectors poised for digital innovation, leveraging data and technology to disrupt conventional business models and drive progress.
Contact Information
Investor Relations
Nixxy
IR@nixxy.com
https://www.nixxy.com
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SOURCE: Nixxy, Inc.
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