Dyadic authorizes new stock repurchase program

In Florida, Dyadic International, Inc. announced that its Board of Directors has authorized a new stock repurchase program, under which the Company may repurchase up to $5 million of its outstanding common stock.

Under this new stock repurchase program, Dyadic may repurchase shares in accordance with all applicable securities laws and regulations, including Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The extent to which Dyadic repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including market conditions, regulatory requirements and other corporate considerations, as determined by Dyadic’s management. The repurchase program may be extended, suspended or discontinued at any time. The Company expects to finance the program from existing cash resources.

Michael Tarnok, Dyadic’s Chairman said in the press release, “We believe that Dyadic’s stock does not reflect Dyadic’s growth prospects and the value of our proprietary C1 technology” and that “this new stock repurchase program provides the Company with an opportunity to provide liquidity to shareholders and increase shareholder value.”