IZEA Worldwide Partners With GP Investments, Enhances Board

MT Newswires Live09-10

IZEA Worldwide (IZEA) said Tuesday it formed a partnership with GP Investments to launch a series of value-enhancing initiatives and enhanced its board with the appointment of two GP Investments executives.

Antonio Bonchristiano and Rodrigo Boscolo of GP Investments are joining IZEA's board, the company said.

The company's chairman and chief executive roles are being separated to enhance governance, with Lindsay Gardner being appointed as chairman of IZEA's board.

The company is increasing its share buyback program from $5 million to $10 million and will establish a new strategy & capital allocation committee to assess strategic options, capital management, and cash flow.

The company also said it is committed to pursuing merger and acquisition opportunities.

Shares of IZEA were up 7.5% in recent Tuesday trading.

Price: 2.30, Change: +0.16, Percent Change: +7.48

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