Form 6-K - Report of foreign issuer [Rules 13a-16 and 15d-16]
17 Julio 2024 - 3:10PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of July 2024
Commission File Number: 001-40368
SAI.TECH Global Corporation
(Exact name of registrant as specified in its
charter)
#01-05 Pearl’s Hill Terrace, Singapore,
168976
(Address of principal executive office)
Indicate by check mark whether the registrant files or will file annual
reports under cover Form 20-F or Form 40-F.
Form 20-F ☒
Form 40-F ☐
On July 17, 2024, SAI.TECH
Global Corporation (the “Company”) announced a share repurchase program. The Company issued the press release filed herewith
on July 17, 2024. The materials attached as Exhibit 99.1 are incorporated by reference herein.
SUBMITTED HEREWITH
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereto duly authorized.
Date: July 17, 2024 |
SAI.TECH GLOBAL CORPORATION |
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By: |
/s/ Risheng Li |
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Name: |
Risheng Li |
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Title: |
Chief Executive Officer |
2
Exhibit 99.1
SAI.TECH Global Corporation Announces Share
Repurchase Program
SINGAPORE, July 17, 2024 (GLOBE NEWSWIRE)
-- SAI.TECH Global Corporation (“SAI.TECH” or “SAI” or the “Company”) (NASDAQ: SAI, SAITW), today
announced that its board of directors has authorized a new share repurchase program under which the Company may repurchase up to US$1
million and up to 1 million shares of its ordinary shares until January 11, 2025. The Company plans to adopt and implement this share repurchase program in
accordance with applicable rules and requirements under the Securities Exchange Act of 1934, as amended, and the Company’s insider
trading policies.
The Company’s proposed 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 timing
and dollar amount of repurchase transactions will be subject to the Securities and Exchange Commission Rule 10b-18 and Rule 10b-5 requirements.
The Company’s board of directors will review the share repurchase program periodically and may authorize adjustment of its terms
and size.
About SAI.TECH
SAI.TECH is a Nasdaq-listed (SAI) sustainable
distributed bitcoin mining operator headquartered in Singapore. SAI’s mission is to become a sustainable distributed digital asset
mining operator and heating supplier globally, while simultaneously promote the clean transition of the bitcoin mining, power and heating
industries.
In May 2022, SAI became a publicly traded company
under the new ticker symbol “SAI” on the Nasdaq Stock Market (NASDAQ) through a merger with TradeUP Global Corporation. For
more information on SAI.TECH, please visit https://sai.tech/.
Safe Harbor Statement
This press release may contain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words “believe”, “expect”,
“anticipate”, “project”, “targets”, “optimistic”, “confident that”, “continue
to”, “predict”, “intend”, “aim”, “will” or similar expressions are intended to identify
forward-looking statements. All statements other than statements of historical fact are statements that may be deemed forward-looking
statements. These forward-looking statements include, but not limited to, statements concerning SAI.TECH and the Company’s operations,
financial performance, and condition are based on current expectations, beliefs and assumptions which are subject to change at any time.
SAI.TECH cautions that these statements by their nature involve risks and uncertainties, and actual results may differ materially depending
on a variety of important factors such as government and stock exchange regulations, competition, political, economic, and social conditions
around the world including those discussed in SAI.TECH’s Form 20-F under the headings “Risk Factors”, “Results
of Operations” and “Business Overview” and other reports filed with the Securities and Exchange Commission from time
to time. All forward-looking statements are applicable only as of the date it is made and SAI.TECH specifically disclaims any obligation
to maintain or update the forward-looking information, whether of the nature contained in this release or otherwise, in the future.
Media Contact
pr@sai.tech
Investor Relations Contact
ir@sai.tech
SAI TECH Global (NASDAQ:SAI)
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