PODA Holdings Inc. (OTCMKTS: PODAF) up 36% after announcing intentions to start a normal course bid related to the company’s subordinated outstanding voting shares through the CSE facilities.
Market Action:
On Friday, CUBV stock increased 35.82% at $0.4675 with more than 56.92K shares, compared to its average volume of 19.58K shares. The stock has moved within a range of $0.3911 – 0.4697 after opening the trade at $0.4058.
What You Need To Know
According to the NCIB terms, the company could purchase around 2.78 million subordinate voting shares representing 5% of the outstanding and issued share as of the date of the announcement. The NICB will begin on Thursday, November 4, 2021, and could be extended for 12 months.
CEO Poda Holdings Ryan Selby said that the company is focused on the commercialization of its novel close-ended pods, and the company is in a position to execute its critical business objectives. Selby said that the NCIB is a crucial inflection point and attractive investment. The company’s NICB is a sign to shareholders regarding its financial health and confidence to meet near-term objectives. The NICB will aid the company in aligning the Subordinate Voting Shares’ market price. Therefore, investors should keep an eye on it in the coming weeks.
Key Quote
“Poda is focused on the commercialization of our proprietary closed-ended pods, and we are well-capitalized to execute on our critical business objectives. We also recognize that this is a pivotal inflection point for the Company and an attractive investment,” said Ryan Selby, CEO of Poda Holdings, Inc. “Poda’s NCIB is a clear indicator to shareholders regarding our financial health and our confidence in the Company and its near-term commercial goals.”
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