Manhattan Bridge Capital, Inc. has increased the aggregate number of shares authorized for repurchase under its existing share buyback program from 100,000 to 250,000 common shares. The company's Board of Directors approved this expansion and extended the program's term by an additional 12 months on October 9, 2026, a move disclosed in a Form 8-K filed with the Securities and Exchange Commission.
The announcement indicates that the company may purchase up to 250,000 of its common shares in the aggregate over the new period. Manhattan Bridge Capital stated that share repurchases may be executed through various means, including open market transactions and privately negotiated transactions. The company is incorporated in New York and maintains its principal executive offices at 60 Cutter Mill Road in Great Neck, New York. Its common stock, which carries a par value of $0.001 per share, trades on the Nasdaq Capital Market under the ticker symbol LOAN.
The updated authorization does not obligate the company to purchase any specific number of shares. The program will expire 12 months from the date of the Board's approval of the extension. The Board of Directors retains the discretion to terminate, increase, or decrease the authorization for the share buyback program at any time. Assaf Ran, President and Chief Executive Officer of Manhattan Bridge Capital, signed the report on behalf of the registrant on October 9, 2026.
This adjustment to the buyback parameters provides shareholders with a larger potential volume of shares that may be repurchased by the company over the next year. The increase from 100,000 to 250,000 shares represents a significant expansion in the potential scale of buyback activity relative to the previous authorization level.