Cheer Holding Announces US$50 Million Share Repurchase Authorization
03 Dezembro 2024 - 9:30AM
Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the
“Company”), a leading provider of advanced mobile internet
infrastructure and platform services, announced today that its
board of directors (the “Board”) has authorized a $50 million
repurchase program of its Class A ordinary shares over the next 36
months.
Pursuant to the repurchase program, the Company
may repurchase its Class A ordinary shares from time to time in
open market transactions or in privately negotiated transactions as
permitted under the applicable rules and regulations. Open market
purchases are intended to be conducted in accordance with the
limitations set forth in Rule 10b-18 under the Securities Exchange
Act of 1934, as amended (the “Exchange Act”), and applicable legal
requirements. All or some portion of the repurchases will be made
pursuant to trading plans under Rule 10b5-1 under the Exchange Act,
which will permit shares to be repurchased when the Company might
otherwise be precluded from doing so because of self-imposed
trading blackout periods or other regulatory restrictions. The
timing, amount and method of repurchase will be determined by the
Company’s management based on market conditions, share price, legal
requirements and other factors. The Board will periodically review
the repurchase program and reserves the right to suspend, adjust,
or discontinue as it deems appropriate at any time. No assurance
can be given that any amount of Class A ordinary shares will be
repurchased.
About Cheer Holding, Inc.
As a preeminent provider of next-generation mobile
internet infrastructure and platform services in China, Cheer
Holding is dedicated to building a digital ecosystem that
integrates “platforms, applications, technology, and industry” into
a cohesive digital eco-system, thereby creating a new, open
business environment for web3.0 that leverages AI technology. The
Company is developing a 5G+VR+AR+AI shared universe space that
builds on cutting-edge technologies including blockchain, cloud
computing, extended reality, and digital twin.
Cheer Holding’s portfolio includes a wide range of
products and services, such as CHEERS Telepathy, CHEERS Video,
CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat,
Polaris Intelligent Cloud, AI-animated short drama series, short
video matrix, variety show series, Livestreaming, and more. These
offerings provide diverse application scenarios that seamlessly
blend “online/offline” and “virtual/reality” elements.
With “CHEERS+” at the core of Cheer Holding’s
digital ecosystem, the Company is committed to utilizing innovative
product applications and technologies to drive its long-term
sustainable and scalable growth.
For more information, please visit
http://ir.gsmg.co/.
Safe Harbor Statement
Certain statements made in this release are
“forward looking statements” within the meaning of the “safe
harbor” provisions of the United States Private Securities
Litigation Reform Act of 1995. When used in this press release, the
words “estimates,” “projected,” “expects,” “anticipates,”
“forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,”
“will,” “should,” “future,” “propose” and variations of these words
or similar expressions (or the negative versions of such words or
expressions) are intended to identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside the Company’s control, that
could cause actual results or outcomes to differ materially from
those discussed in the forward-looking statements. Important
factors, among others, are: the ability to manage growth; ability
to identify and integrate other future acquisitions; ability to
obtain additional financing in the future to fund capital
expenditures; fluctuations in general economic and business
conditions; costs or other factors adversely affecting our
profitability; litigation involving patents, intellectual property,
and other matters; potential changes in the legislative and
regulatory environment; a pandemic or epidemic; the occurrence of
any event, change or other circumstances that could affect the
Company’s ability to continue successful development and launch of
its metaverse experience centers; the possibility that the Company
may not succeed in developing its new lines of businesses due to,
among other things, changes in the business environment and
technological developments, competition, changes in regulation, or
other economic and policy factors; disruptions or other business
interruptions that may affect the operations of our products and
services, the possibility that the Company’s new lines of business
may be adversely affected by other economic, business, and/or
competitive factors; other factors, risks and uncertainties set
forth in documents filed by the Company with the Securities and
Exchange Commission from time to time, including the Company’s
latest Annual Report on Form 20-F filed with the SEC on March 14,
2024, as amended. The Company undertakes no obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by
applicable law. Such information speaks only as of the date of this
release.
For investor and media inquiries, please
contact:
Wealth Financial Services LLCConnie Kang,
PartnerEmail: ckang@wealthfsllc.comTel: +86 1381 185 7742 (CN)
Cheer (NASDAQ:CHR)
Gráfico Histórico do Ativo
De Nov 2024 até Dez 2024
Cheer (NASDAQ:CHR)
Gráfico Histórico do Ativo
De Dez 2023 até Dez 2024