07:03 AM EDT, 10/09/2024 (MT Newswires) -- Marti Technologies ( MRT ) said Wednesday its board of directors has approved a six-month extension to the share repurchase program under which the company may buy back up to $2.5 million of its outstanding Class A ordinary shares.

The board has also increased the ceiling price for share repurchases from $3.30 to $5 per share.

The share buyback program was originally launched in January this year.

Marti said the timing and amount of share repurchases will be determined by the management, based on factors, including the assessment of the company's share value, market conditions, and liquidity.