Sono-Tek board authorizes $2M share buyback

Sono-Tek (SOTK) announced that its Board of Directors has authorized the repurchase of up to $2M of Sono-Tek’s outstanding common stock. Sono-Tek currently expects to fund the Repurchase Program from existing cash on hand and future cash flows. As of August 31, 2024, Sono-Tek had cash, cash equivalents and marketable securities of approximately $11.6M and has no debt on its balance sheet. SOTK had approximately 15,751,000 shares of common stock outstanding as of August 31, 2024.