Cheer Holding, Inc. announced on December 3, 2024, that its board of directors authorized a share repurchase program of up to $50 million of its Class A ordinary shares. This program is set to be executed over the next 36 months, reflecting the company's commitment to enhancing shareholder value.
The repurchases may be conducted through open market transactions or privately negotiated deals, adhering to applicable rules and regulations, including Rule 10b-18 and Rule 10b5-1 under the Securities Exchange Act of 1934. The timing and specific methods of repurchase will be determined by the company's management based on market conditions and share price.
This authorization provides Cheer Holding with flexibility to manage its capital structure and potentially reduce the number of outstanding shares. A share repurchase program can indicate management's belief that the company's shares are undervalued, offering a positive signal to investors regarding future prospects.
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