- "When there is such a disconnect in the potential value of our Company and the price reflected in the stock, we believe one of the best investments we can make is in our own stock," says Harris & Harris (TINY +9.3%), announcing authorization to buy back up to $2.5M of company shares.
- That would be roughly 1M shares at the current price of $2.57, or just over 3% of the float.
- Cash received from the sale of some portfolio companies will be used to make the purchases.
- Net asset value per share of $3.34 as of June 30 vs. $3.51 at the start of the year, and $3.87 one year ago.
- Source: Press Release