ATLANTA, Sept. 22, 2023 (GLOBE NEWSWIRE) — Bitcoin Depot Inc. (“Bitcoin Depot” or the “Firm”), a U.S.-based Bitcoin ATM operator and main fintech firm, right now introduced that its Board of Administrators has approved a share repurchase program pursuant to which the Firm is permitted to repurchase as much as $10 million of excellent shares of its Class A typical inventory starting instantly and persevering with by and together with June 30, 2024.
Pursuant to the authorization, repurchases could also be made every now and then utilizing a wide range of strategies, together with open market purchases, privately negotiated transactions or by different means in accordance with U.S. securities legal guidelines and laws, together with pursuant to Rule 10b-18 and below plans meant to qualify below Rule 10b5-1 of the U.S. Securities Alternate Act of 1934, as amended (the “Alternate Act”). The timing and whole quantity of share repurchases might be decided by the Firm at its discretion and can depend on a wide range of components, together with enterprise, financial and market circumstances, company and regulatory necessities, administration’s evaluation of the intrinsic worth of the Firm’s Class A typical inventory, accessible liquidity, compliance with the Firm’s debt and different agreements and prevailing inventory costs. The precise greenback quantity or variety of shares to be repurchased by the Firm will not be assured, and this system could also be suspended, modified, or discontinued at any time with out prior discover. The Firm expects to fund repurchases with money readily available and money supplied by operations.
About Bitcoin Depot
Bitcoin Depot Inc. (Nasdaq: BTM) was based in 2016 with the mission to attach those that favor to make use of money to the broader, digital monetary system. Bitcoin Depot offers its customers with easy, environment friendly and intuitive technique of changing money into Bitcoin, which customers can deploy within the funds, spending and investing house. Customers can convert money to Bitcoin at Bitcoin Depot’s kiosks and at hundreds of name-brand retail places in 48 U.S. states by its BDCheckout product. The Firm has the biggest market share in North America with roughly 6,400 kiosk places as of June 30, 2023. Study extra at www.bitcoindepot.com.
Cautionary Word Relating to Ahead-Wanting Statements
This press launch and any oral statements made in connection herewith embody “forward-looking statements” throughout the which means of Part 27A of the Securities Act of 1933, as amended, and Part 21E of the Alternate Act. Ahead-looking statements are any statements apart from statements of historic truth, and embody, however usually are not restricted to, statements relating to the expectations of plans, enterprise methods, goals and progress and anticipated monetary and operational efficiency, together with our progress technique and talent to extend deployment of our services and products and our proposed share repurchase program and the projected timing, buy value and variety of shares bought below such program, if in any respect. These forward-looking statements are primarily based on administration’s present beliefs, primarily based on at present accessible data, as to the result and timing of future occasions. Ahead-looking statements are sometimes recognized by phrases corresponding to “anticipate,” “seems,” “roughly,” “consider,” “proceed,” “may,” “designed,” “impact,” “estimate,” “consider,” “anticipate,” “forecast,” “aim,” “initiative,” “intend,” “might,” “goal,” “outlook,” “plan,” “potential,” “priorities,” “challenge,” “pursue,” “search,” “ought to,” “goal,” “when,” “will,” “would,” or the adverse of any of these phrases or comparable expressions that predict or point out future occasions or developments or that aren’t statements of historic issues, though not all forward-looking statements include such figuring out phrases. In making these statements, we depend upon assumptions and evaluation primarily based on our expertise and notion of historic developments, present circumstances, and anticipated future developments, in addition to different components we think about acceptable below the circumstances. We consider these judgments are affordable, however these statements usually are not ensures of any future occasions or monetary outcomes. These forward-looking statements are supplied for illustrative functions solely and usually are not meant to function, and should not be relied on by any investor as, a assure, an assurance, a prediction or a definitive assertion of truth or chance. Precise occasions and circumstances are troublesome or inconceivable to foretell and can differ from assumptions. Many precise occasions and circumstances are past our management.
These forward-looking statements are topic to various dangers and uncertainties, together with modifications in home and overseas enterprise, market, monetary, political and authorized circumstances; failure to understand the anticipated advantages of the enterprise mixture; future world, regional or native financial and market circumstances; the event, results and enforcement of legal guidelines and laws; our means to handle future progress; our means to develop new services and products, deliver them to market in a well timed method and make enhancements to our platform; the consequences of competitors on our future enterprise; our means to situation fairness or equity-linked securities; the result of any potential litigation, authorities and regulatory proceedings, investigations and inquiries; and people components described or referenced in filings with the Securities and Alternate Fee. If any of those dangers materialize or our assumptions show incorrect, precise outcomes may differ materially from the outcomes implied by these forward-looking statements. There could also be extra dangers that we don’t presently know or that we at present consider are immaterial that might additionally trigger precise outcomes to vary from these contained within the forward-looking statements. As well as, forward-looking statements replicate our expectations, plans or forecasts of future occasions and views as of the date of this press launch. We anticipate that subsequent occasions and developments will trigger our assessments to vary.
We warning readers to not place undue reliance on forward-looking statements. Ahead-looking statements converse solely as of the date they’re made, and we undertake no obligation to replace publicly or in any other case revise any forward-looking statements, whether or not on account of new data, future occasions, or different components that have an effect on the topic of those statements, besides the place we’re expressly required to take action by regulation. All written and oral forward-looking statements attributable to us are expressly certified of their entirety by this cautionary assertion.
Contacts:
Buyers
Cody Slach, Alex Kovtun
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com
Media
Zach Kadletz, Brenlyn Motlagh, Ryan Deloney
Gateway Group, Inc.
949-574-3860
BTM@gateway-grp.com