The board of directors of KindlyMD has approved a share repurchase plan.

BlockBeats News, December 18, according to official sources, US-listed Bitcoin crypto treasury (DAT) company KindlyMD (NAKA) announced today that its board of directors has approved a share repurchase program, under which the company may repurchase its outstanding common shares.

According to the newly authorized repurchase plan, KindlyMD may from time to time repurchase its common shares through open market purchases, privately negotiated transactions, block trades, and/or other methods permitted by law. Repurchases may also be implemented pursuant to a 10b5-1 trading plan and will comply with Rule 10b-18 under the amended Securities Exchange Act of 1934.

The timing, amount, and method of any share repurchase will be determined by management based on market conditions, share price, trading volume, capital requirements, regulatory factors, and other relevant considerations. The plan does not obligate the company to repurchase any specific number of shares, and the board of directors may modify, suspend, or terminate the plan at any time at its discretion.

Previous reports indicated that KindlyMD faces the risk of delisting from Nasdaq, as its share price has remained below $1 for 30 consecutive trading days.