Tranche Update on Marqeta, Inc. (NasdaqGS:MQ)'s Equity Buyback Plan announced on May 9, 2023.
May 07, 2024 at 05:12 pm EDT
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From January 1, 2024 to March 31, 2024, the company has repurchased 5,237,893 shares, representing 1.01% for $32.03 million. With this, the company has completed the repurchase of 36,542,998 shares, representing 6.87% for $200 million under the buyback announced on May 9, 2023.
Marqeta, Inc. is engaged in providing modern card issuing and payment processing solutions. The Company provides a single, global, cloud-based, open application programming interface (API) platform for modern card issuing and transaction processing. It works with companies in a range of different configurations, such as Managed By Marqeta and Powered By Marqeta. With Managed By Marqeta, the Company provides an issuing bank partner to act as the bank identification number; sponsor for the customerâs card program; manages the customerâs card program on behalf of the issuing bank, and provides a full range of services, including configuring many of the critical resources required by a customerâs production environment. With Powered By Marqeta, it provides payment processing, and assists with certain configuration elements that enable the customer to use the platform independently. It serves customers in multiple industry verticals, including financial services, on-demand services.