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GigaCloud Technology | 8-K: GigaCloud Technology Inc Announces $46 Million Share Repurchase Program

GigaCloud Technology | 8-K: GigaCloud Technology Inc Announces $46 Million Share Repurchase Program

大健云仓 | 8-K：大健云仓宣布4600万美元股票回购计划
美股SEC公告 ·  2024/09/03 19:21

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GigaCloud Technology's board has approved a new $46 million share repurchase program of its Class A ordinary shares over the next 12 months, following the expiration of its previous $25 million program announced in June 2023. The company plans to execute purchases through various means including open market transactions and block trades, in compliance with SEC regulations.The company's strong financial position supports this initiative, with over $200 million in cash, cash equivalents and liquid investments, no external debt, and positive operating cash flows. In FY2023, GigaCloud generated $133.5 million from operating activities, used $86.6 million for strategic acquisitions, and ended with $46.9 million unspent.CEO Larry Wu expressed confidence in the company's long-term growth potential, particularly in digitalizing the global supply chain for large parcel merchandise, despite near-term economic headwinds. The company plans to implement a 10b5-1 plan for share repurchases after the current quarter, subject to market conditions.
GigaCloud Technology's board has approved a new $46 million share repurchase program of its Class A ordinary shares over the next 12 months, following the expiration of its previous $25 million program announced in June 2023. The company plans to execute purchases through various means including open market transactions and block trades, in compliance with SEC regulations.The company's strong financial position supports this initiative, with over $200 million in cash, cash equivalents and liquid investments, no external debt, and positive operating cash flows. In FY2023, GigaCloud generated $133.5 million from operating activities, used $86.6 million for strategic acquisitions, and ended with $46.9 million unspent.CEO Larry Wu expressed confidence in the company's long-term growth potential, particularly in digitalizing the global supply chain for large parcel merchandise, despite near-term economic headwinds. The company plans to implement a 10b5-1 plan for share repurchases after the current quarter, subject to market conditions.
大健云仓的董事会批准了一项新的4600万美元的股票回购计划，计划在未来12个月内回购其A类普通股，此前在2023年6月宣布的2500万美元回购计划已到期。公司计划通过包括公开市场交易和大宗交易等多种方式执行回购，遵守SEC的规定。公司的强劲财务状况支持这一举措，拥有超过20000万美元的现金、现金等价物和流动投资，没有外部债务，并且拥有正向的经营现金流。在2023财年，大健云仓从经营活动中产生了13350万美元，使用了8660万美元用于战略收购，并以4690万美元的未支出资金结束。首席执行官Larry Wu对公司的长期增长潜力表示信心，特别是在数字化全球大型包裹商品的供应链方面，尽管近期面临经济逆风。公司计划在当前季度结束后，根据市场状况实施一项10b5-1计划进行股票回购。
大健云仓的董事会批准了一项新的4600万美元的股票回购计划，计划在未来12个月内回购其A类普通股，此前在2023年6月宣布的2500万美元回购计划已到期。公司计划通过包括公开市场交易和大宗交易等多种方式执行回购，遵守SEC的规定。公司的强劲财务状况支持这一举措，拥有超过20000万美元的现金、现金等价物和流动投资，没有外部债务，并且拥有正向的经营现金流。在2023财年，大健云仓从经营活动中产生了13350万美元，使用了8660万美元用于战略收购，并以4690万美元的未支出资金结束。首席执行官Larry Wu对公司的长期增长潜力表示信心，特别是在数字化全球大型包裹商品的供应链方面，尽管近期面临经济逆风。公司计划在当前季度结束后，根据市场状况实施一项10b5-1计划进行股票回购。
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