QuantumCore Plans to Repurchase Up to 1.59 Million Shares

QuantumCore Ltd. plans to buy back as many as 1,585,729 common shares through the Canadian Securities Exchange, allowing the Canadian quantum hardware company to retire about 5% of its outstanding stock. The limit is also about 10% of the company’s public float. QuantumCore has 31,714,581 shares outstanding. Any shares it buys would be purchased at the prevailing market price and canceled. QuantumCore considers its shares undervalued. It has appointed Leede Financial Inc. to handle purchases, but the authorization does not require the company to buy any shares. The timing and size of purchases will depend on market conditions.

Source: TokenPost