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Sezzle Sizzles on Stock Buyback

Sezzle Inc. (NASDAQ:SEZL) shares went higher Thursday, as the digital payment platform today announced that the Company’s Board of Directors has authorized the repurchase of an additional $15.0 million of the Company’s common stock after completing its $5.0 million stock repurchase plan announced on December 22, 2023. The manner, timing and amount of any purchase will be based on an evaluation of market conditions, stock price and other factors.

"Our confidence in the Company’s continued momentum allows the Board to authorize a new $15 million stock repurchase program,” stated Charlie Youakim, Sezzle Chairman and CEO. “We remain committed to maximizing shareholder value through a disciplined capital allocation policy that will drive growth and maintain adequate liquidity.”

Repurchases under the program will be made in open market transactions in compliance with the Securities and Exchange Commission Rule 10b-18 and federal securities laws. The stock repurchase program does not obligate the Company to acquire any particular amount of common stock, and it may be extended, suspended or discontinued at any time at the Company’s discretion.

The Minneapolis-based Sezzle is a fintech company on a mission to financially empower the next generation. Sezzle’s payment platform increases the purchasing power for millions of consumers by offering interest-free installment plans at online stores and select in-store locations.

SEZL shares chugged ahead $1.51, or 1.8%, to $84.36.