Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Files An 8-K Other Events
Item 8.01.
| Other Events. |
On March 14, 2017, Manhattan Bridge Capital, Inc. (the Company)
announced that the Companys Board of Directors authorized a share
buy back program (the Share Buy Back Program), to which the
Company may, from time to time, purchase up to 100,000 shares of
its common stock. Share repurchases may be executed through
various means, including, without limitation, open market
transactions, privately negotiated transactions or otherwise. The
Share Buy Back Program does not obligate the Company to purchase
any shares and expires in 12 months. The authorization for the
Share Buy Back Program may be terminated, increased or decreased
by the Companys Board of Directors in its discretion at any time.
About Manhattan Bridge Capital, Inc. (NASDAQ:LOAN)
Manhattan Bridge Capital, Inc. (MBC) is a real estate finance company that specializes in originating, servicing and managing a portfolio of first mortgage loans. The Company offers short-term, secured, non-banking loans to real estate investors to fund their acquisition, renovation, rehabilitation or improvement of properties located in the New York metropolitan area. Its primary business objective is to grow its loan portfolio while protecting and preserving capital in a manner that provides for risk-adjusted returns to its shareholders over the long term through dividends. It intends to achieve this objective by continuing to selectively originate, fund loans secured by first mortgages on residential real estate held for investment located in the New York metropolitan area, and to manage and service its portfolio in a manner designed to generate risk-adjusted returns across a range of market conditions and economic cycles. Its loan portfolio includes various construction loans. Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) Recent Trading Information
Manhattan Bridge Capital, Inc. (NASDAQ:LOAN) closed its last trading session up +0.05 at 5.70 with 55,681 shares trading hands.
