Business
LIVEONE INCREASES CURRENT PORTION OF ITS STOCK REPURCHASE PROGRAM TO UP TO $1 MILLION WORTH OF SHARES
Company Has Thus Far Repurchased 500K Shares for $350,000 Under Its 2 Million Shares Stock Repurchase Program LOS ANGELES, May 25, 2022 /PRNewswire/ --
About this update from Liveone, Inc.
[{"type":"text","content":"Company Has Thus Far Repurchased 500K Shares for $350,000 Under Its 2 Million Shares Stock Repurchase Program \nLOS ANGELES, May 25, 2022 /PRNewswire/ -- LiveOne (Nasdaq: LVO), a creator-first, music, entertainment, and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events, announced today that it has increased its current portion of its stock repurchase program and intends to continue open market repurchases of its shares of common stock totaling up to $1 million of LiveOne's shares, including already repurchased shares, in the current first quarter of fiscal year 2023.\n\n \n \n \n \n \n \n\n \nLiveOne has thus far completed the repurchase of 500,000 shares of its common stock for $350,000 under its previously announced stock repurchase program. Repurchases of up to 2,000,000 of LiveOne's shares of common stock have been previously authorized by its board of directors. The authorization to repurchase will expire on January 31, 2023.\nThe timing, price and actual number of shares repurchased under the Company's stock repurchase program will be at the discretion of LiveOne's management and will depend on a variety of factors, including stock price, general business and market conditions, and alternative investment opportunities. The repurchase program will be executed consistent with LiveOne's capital allocation strategy, which will continue to prioritize growing LiveOne's business. \nAbout LiveOne, Inc.Headquartered in Los Angeles, California, LiveOne, Inc. (NASDAQ: LVO) (the \"Company\") is an award-winning, creator-first, music, entertainment and technology platform focused on delivering premium experiences and content worldwide through memberships and live and virtual events. As of April 25, 2022, the Company has accrued a paid and free membership base of over 2.26 million**, streamed over 2,900 artists, has a library of 30 million songs, 600 curated radio stations, nearly 270 podcasts/vodcasts, hundreds of pay-per-views, personalized merchandise, released music-related NFTs, and created a valuable connection between fans, brands, and bands. The Company's wholly-owned subsidiaries include Slacker Radio, React Presents, Gramophone Media, Palm Beach Records, Custom Personalization Solutions, LiveXLive, PPVOne and PodcastOne, which generates more than...