Orlando, Florida, July 02, 2019 (GLOBE NEWSWIRE) -- IZEA Worldwide, Inc. (NASDAQ: IZEA), operator of IZEAx®, the premier online marketplace connecting brands and publishers with influential content creators, today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up to $3.5 million worth of its common stock from time to time through December 31, 2020, subject to market conditions. A special committee consisting of independent Board members has been formed to authorize each individual buyback.
“IZEA’s Board of Directors and management team believe that the market currently undervalues our core business and technology assets,” commented Ted Murphy, Chairman and CEO of IZEA. “The share repurchase program provides us with flexibility to repurchase stock over time if market conditions persist.”
Under the share repurchase program, the Company may periodically repurchase its common stock through open market transactions, privately negotiated transactions, block trades or any combination thereof in compliance with applicable securities laws and the Company’s insider trading policy. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume, and general market conditions, along with IZEA’s working capital requirements and general business conditions. The share repurchase program does not obligate the Company to acquire any specific number of shares in any period, and may be expanded, extended, modified or discontinued at any time.
About IZEA Worldwide, Inc.
IZEA Worldwide, Inc. (“IZEA”) operates IZEAx,the premier online marketplace that connects marketers with content creators. IZEAxautomates influencer marketing and custom content development, allowing brands and agencies to scale their marketing programs. IZEA creators include celebrities and accredited journalists. Creators are compensated for producing unique content such as long and short form text, videos, photos, status updates, and illustrations for marketers or distributing such content on behalf of marketers through their personal websites, blogs, and social media channels. Marketers receive influential content and engaging, shareable stories that drive awareness. For more information about IZEA, visit https://izea.com/.
