Valens Semiconductor (VLN) announced that its Board of Directors has approved a “distribution”, as defined in the Israeli Companies Law, 1999, by way of a share repurchase program, pursuant to which the Company may repurchase an aggregate amount of up to $10M of the Company’s ordinary shares, subject to the completion of required Israeli regulatory procedures. According to Section 7C. of the Companies Regulations 2000, the Company’s creditors may apply to the Company and object to the Distribution, within 30 days following its publication. Following, and subject to, completion of the required Israeli regulatory procedures, share repurchases under the program will be made from time to time in open market purchases, private transactions or other transactions as permitted by securities laws and other legal requirements.
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Read More on VLN:
- Valens Semiconductor Announces Ambitious Growth Strategy
- Valens Semiconductor sees FY24 revenue $57.2M-$57.5M, consensus $57.3M
- Valens Semiconductor sees FY25 revenue $71M-$76M, consensus $67.35
- Valens Semiconductor sees FY29 revenue $220M-$300M
- Valens Semiconductor Unveils Growth Strategy and Revenue Goals
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