SuperX AI Technology Limited (NASDAQ:SUPX) saw its shares rise 3.4% in premarket trading on Wednesday after the company rolled out a new share repurchase initiative worth up to $20 million over the next 12 months.
The AI infrastructure firm said its board has approved the plan, giving SuperX the flexibility to buy back shares either through open-market purchases or privately negotiated transactions. The company noted that any repurchases will be carried out in accordance with applicable securities regulations, including the safe-harbor guidelines under Rule 10b-18 of the U.S. Securities Exchange Act of 1934.
SuperX emphasized that the pace and scale of the buybacks will vary depending on market dynamics, available liquidity, and regulatory considerations. The authorization does not require the company to acquire a set number of shares and can be paused or terminated at management’s discretion.
Announcing the program, the company said the move reflects “deep confidence in SuperX’s long-term growth and business model,” adding that its current stock price “does not fully reflect the Company’s value and its growth potential.”
According to the statement, the buyback plan is designed to boost long-term shareholder returns while preserving the financial flexibility needed to support the company’s broader expansion strategy.