Bimergen Energy Corporation announced that its Board of Directors has authorized an open-market warrant repurchase program to buy back any or all of its publicly traded warrants, which trade under the ticker BESSWS. The program is intended to opportunistically deploy capital to reduce future equity dilution while taking advantage of then-current market pricing, with purchases to be made from time to time on the open market, through block trades, or via privately negotiated transactions in compliance with federal securities laws and NYSE American requirements. Co-CEO Bob Brilon said the company has not yet established brokerage accounts to execute the authorized buyback, but that the Board's authorization positions management to efficiently use its cash to reduce potential dilution and optimize its equity architecture. Co-CEO Cole W. Johnson said closing transactions for high-quality battery energy storage projects remains the company's focused strategy, and that the flexibility of the buyback program and reduction of equity overhang is viewed as a positive by current and potential strategic partners. The program does not obligate Bimergen to acquire any specific amount of warrants and may be suspended or discontinued at any time, with timing and volume depending on market conditions, liquidity, trading volumes and regulatory requirements.
Bimergen Energy CorporationBoard authorized an open-market warrant buyback program to reduce future equity dilution and equity overhang.
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