SHANGHAI, June 10,
2022 /PRNewswire/ -- Nisun International Enterprise
Development Group Co., Ltd ("Nisun" or the "Company") (Nasdaq:
NISN), a provider of innovative comprehensive solutions through an
integration of technology, industry and finance, announced that its
Board of Directors has approved a share repurchase program under
which the Company may purchase up to $8
million of its Class A common shares (the "Share Repurchase
Program").
The Share Repurchase Program will go into effect in June 2022 and is expected to last through the
next six months. The repurchases may be made from time to time
through open market transactions 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 Company
entered into an agreement with a broker-dealer designed to comply
with the Securities and Exchange Commission Rule 10b5-1 under the
Securities Exchange Act of 1934, as amended. Repurchases will be
made by the broker-dealer in accordance with the agreement and the
regulations of the Securities and Exchange Commission. The
Company's Board of Directors will review the Share Repurchase
Program periodically and may authorize adjustments of its terms and
size, or suspend or discontinue the program.
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun International, commented: "This
transaction marks an important step in our long-term strategy as we
continue to invest in the business through strategic capital
deployment. The share repurchase program underscores our confidence
in our ability to achieve sustainable growth and generate
meaningful value for our stakeholders."
About Nisun International Enterprise Development Group Co.,
Ltd
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun is dedicated to
providing professional supply chain solutions to Chinese and
foreign enterprises and financial institutions. Through its
subsidiaries, Nisun provides users with professional solutions for
technology supply chain management, technology asset routing, and
digital transformation of tech and finance institutions, enabling
the industry to strengthen and grow. At the same time, Nisun
continues to deepen the field of industry segmentation through
industrial and financial integration, by cultivating/creating an
ecosystem of openness and empowerment. Nisun has built a linked
platform that incorporates supply chain, banking, securities,
trust, insurance, funds, state-owned enterprises, among other
businesses. Focusing on industry-finance linkages, Nisun aims to
serve the upstream and downstream of the industrial supply chain
while also assisting with supply-side sub-sector reform. For more
information, please visit http://ir.nisun-international.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a
variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com
View original
content:https://www.prnewswire.com/news-releases/nisun-international-board-approval-of-share-repurchase-program-301565613.html
SOURCE Nisun International Enterprise Development Group Co.,
Ltd