Purpose-driven digital payment platform, Sezzle, today announced that the Company’s Board of Directors (the “Board”) has authorized a stock repurchase program of up to US$5 million of its outstanding shares of common stock on the Nasdaq Capital Market. The manner, timing, and amount of any purchase will be based on an evaluation of market conditions, stock price, and other factors.

"Sezzle is committed to maximizing shareholder value, and we consider this stock repurchase authorization to be a positive step towards this goal,” stated Charlie Youakim, Sezzle Chairman and CEO. “We believe the current share price does not reflect the Company’s intrinsic value and this action underscores the Board’s confidence in the Company. Given our strong performance, we believe this share repurchase program is a timely and appropriate use of the Company’s capital resources.”

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 repurchase program will commence no earlier than January 17, 2024, following the Company’s delisting from the ASX, and is expected to be completed over the following 12-month period thereafter. 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.