Summary by Moomoo AI
Coupang, Inc., a company listed on the New York Stock Exchange, has entered into a Share Repurchase Agreement with Maverick Holdings C, L.P., an early stage investor. The agreement, effective as of April 1, 2024, was for the repurchase of 10 million shares of Coupang's Class A Common Stock at $17.79 per share, totaling an aggregate purchase price of $177.9 million. This transaction was completed on April 3, 2024. The company has stated that it is continually evaluating its capital allocation strategy and will consider various opportunities, including further share repurchases, to enhance long-term shareholder value. The details of the Repurchase Agreement were included in the company's Current Report on Form 8-K filed with the SEC, which also contains forward-looking statements about the company's capital allocation strategy and its potential impact on shareholder value.
