Webull Corporation (NASDAQ:BULL) today announced that its board of directors has authorized a share repurchase program, under which the company may repurchase up to $100 million of its Class A ordinary shares during the coming 12 months.

Under the Repurchase Program, Webull may make repurchases from time to time through open market transactions at prevailing market prices, in privately negotiated transactions, in block trades or through other legally permissible means, depending on the market conditions and in accordance with applicable rules and regulations.

In doing so, the company may enter into one or more trading plans.

The company plans to fund the Repurchase Program using existing cash and future cash flow. The timing and amount of the shares repurchased pursuant to the Repurchase Program will be decided by Webull based on various factors, including its capital position, liquidity, financial performance, alternative uses of capital, share trading price, regulatory requirements and general market conditions. Webull is not obligated to acquire any specific number of shares and the Repurchase Program may be modified, suspended or discontinued at any time.

“Today’s announcement reflects our continued focus on optimizing our capital structure and delivering long-term value to our shareholders,” said Anthony Denier, Group President and U.S. Chief Executive Officer of Webull. “It demonstrates our confidence in Webull’s long-term outlook, financial position and growth prospects.”

“This share repurchase program reflects our balance sheet strength and our ability to return capital to shareholders while maintaining flexibility to continue investing in our growth priorities,” said H.C. Wang, Chief Financial Officer of Webull.