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ALT5 Sigma Board Approves Major Buyback and WLFI Token Staking Plan
BlockBeats News, January 29th, ALT5 Sigma Corporation (Nasdaq: ALTS) announced that its Board of Directors has approved a share repurchase program of up to $100 million, with plans to repurchase up to 50 million shares when trading below Net Asset Value (NAV), representing approximately 40% of outstanding shares. The company stated that this move aims to take advantage of valuation discounts and unlock shareholder value.
Additionally, the Board has approved further purchases of WLFI tokens on the secondary market. ALT5 currently holds around 7.3 billion WLFI tokens, valued at approximately $1.5 billion, and is optimistic about the rapid growth of the World Liberty Financial ecosystem and its stablecoin, USD1.
To kickstart these initiatives, ALT5 has secured a $15 million loan agreement with World Liberty Financial and has indicated potential future financing using its strong balance sheet of over $1.6 billion.
CEO Tony Isaac stated that this buyback and token positioning demonstrate the management's high confidence in the company's long-term value and strategic direction.
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