LIZHI Announces $3 Million Share Repurchase Program
13 Diciembre 2023 - 4:45AM
LIZHI INC. (“LIZHI” or the “Company” or “We”) (NASDAQ: LIZI), an
audio-based social and entertainment platform, today announced that
its board of directors (the “Board”) has approved a share
repurchase program whereby LIZHI is authorized to repurchase its
Class A ordinary shares (including Class A ordinary shares in the
form of American depositary shares) with an aggregate value of up
to $3 million over the next 12-month period, starting from today.
Mr. Jinnan (Marco) Lai, founder, CEO and
Chairman of the Board of LIZHI, said, “The share repurchase program
reaffirms our confidence in the long-term growth prospects of all
of LIZHI’s businesses as well as the market potential in the global
audio and social networking industry. We are committed to
delivering value to each of our stakeholders while retaining the
flexibility to drive future growth. Moving forward, we will work
relentlessly to execute our global expansion strategy, explore
potential commercialization opportunities, build an increasingly
competitive business ecosystem, and ultimately create greater value
for our shareholders, users, and society at large.”
The proposed share repurchases may be made from
time to time in the open market at prevailing market prices, in
privately negotiated transactions, in block trades and/or through
other legally permissible means, depending on market conditions and
in accordance with applicable rules and regulations. The number of
ADSs repurchased and the timing or conditions of repurchases may
depend on a number of factors, including, but not limited to, share
price, trading volume and general market conditions, along with
LIZHI’s working capital requirements and general business
conditions, and will be in accordance with applicable rules and
regulations. Repurchase transactions will be subject to applicable
rules of Rule 10b5-1 and/or Rule 10b-18 under the Securities
Exchange Act of 1934, as amended. LIZHI plans to fund the
repurchases out of its existing cash balance or future cash
generated by operating activities.
About LIZHI INC.
LIZHI INC. has created a comprehensive
audio-based social ecosystem with a global presence. The Company
aims to cater to users’ interests in audio entertainment and social
networking through its product portfolios. LIZHI INC. envisions an
audio ecosystem where everyone can be connected and interact
through voices. LIZHI INC. has been listed on Nasdaq since January
2020.
For more information, please visit:
http://ir.lizhi.fm.
Safe Harbor Statement
This press release contains forward-looking
statements. These statements are made under the “safe harbor”
provisions of the U.S. Private Securities Litigation Reform Act of
1995. Statements that are not historical facts, including
statements about the Company’s beliefs and expectations, are
forward-looking statements. Forward-looking statements involve
inherent risks and uncertainties, and a number of factors could
cause actual results to differ materially from those contained in
any forward-looking statement, including but not limited to the
following: LIZHI’s goals and strategies; LIZHI’s future business
development, results of operations and financial condition; the
expected growth of the online audio market; the expectation
regarding the rate at which to gain active users, especially paying
users; LIZHI’s ability to monetize the user base; fluctuations in
general economic and business conditions in China and overseas
markets; the impact of the COVID-19 to LIZHI’s business operations
and the economy in China and elsewhere generally; any adverse
changes in laws, regulations, rules, policies or guidelines
applicable to LIZHI; and assumptions underlying or related to any
of the foregoing. In some cases, forward-looking statements can be
identified by words or phrases such as “may,” “will,” “expect,”
“anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,”
“believe,” “potential,” “continue,” “is/are likely to” or other
similar expressions. Further information regarding these and other
risks, uncertainties or factors is included in the Company’s
filings with the Securities Exchange Commission. All information
provided in this press release is as of the date of this press
release, and the Company does not undertake any duty to update such
information, except as required under applicable law.
For investor and media inquiries, please
contact:
In China:
LIZHI INC.IR DepartmentTel: +86 (20)
8381-8791E-mail: ir@lizhi.fm
Piacente Financial CommunicationsJenny CaiTel:
+86 (10) 6508-0677E-mail: Lizhi@tpg-ir.com
In the United States:
Piacente Financial CommunicationsBrandi
PiacenteTel: +1-212-481-2050E-mail: Lizhi@tpg-ir.com
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