Cheer Holding Inc (CHR) News

$CHR @$2.676 $$$$$$$$ Analyst-PT: $75/Sh(!) per Finviz~ $$$$$$$$
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Huge(!) buyback program authorized:

Cheer Holding Announces US$50 Million Share Repurchase Authorization

BEIJING, Dec. 03, 2024 (GLOBE NEWSWIRE) -- Cheer Holding, Inc. (NASDAQ: CHR) (“Cheer Holding” or the “Company”), a leading provider of advanced mobile internet infrastructure and platform services, announced today that its board of directors (the “Board”) has authorized a $50 million repurchase program of its Class A ordinary shares over the next 36 months.

Pursuant to the repurchase program, the Company may repurchase its Class A ordinary shares from time to time in open market transactions or in privately negotiated transactions as permitted under the applicable rules and regulations. Open market purchases are intended to be conducted in accordance with the limitations set forth in Rule 10b-18 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and applicable legal requirements. All or some portion of the repurchases will be made pursuant to trading plans under Rule 10b5-1 under the Exchange Act, which will permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The timing, amount and method of repurchase will be determined by the Company’s management based on market conditions, share price, legal requirements and other factors. The Board will periodically review the repurchase program and reserves the right to suspend, adjust, or discontinue as it deems appropriate at any time. No assurance can be given that any amount of Class A ordinary shares will be repurchased.

About Cheer Holding, Inc.

As a preeminent provider of next-generation mobile internet infrastructure and platform services in China, Cheer Holding is dedicated to building a digital ecosystem that integrates “platforms, applications, technology, and industry” into a cohesive digital eco-system, thereby creating a new, open business environment for web3.0 that leverages AI technology. The Company is developing a 5G+VR+AR+AI shared universe space that builds on cutting-edge technologies including blockchain, cloud computing, extended reality, and digital twin.

Cheer Holding’s portfolio includes a wide range of products and services, such as CHEERS Telepathy, CHEERS Video, CHEERS e-Mall, CHEERS Open Data, CheerReal, CheerCar, CheerChat, Polaris Intelligent Cloud, AI-animated short drama series, short video matrix, variety show series, Livestreaming, and more. These offerings provide diverse application scenarios that seamlessly blend “online/offline” and “virtual/reality” elements.

With “CHEERS+” at the core of Cheer Holding’s digital ecosystem, the Company is committed to utilizing innovative product applications and technologies to drive its long-term sustainable and scalable growth.

For more information, please visit http://ir.gsmg.co/.

>>> https://www.globenewswire.com/news-release/2024/12/03/2990473/0/en/Cheer-Holding-Announces-US-50-Million-Share-Repurchase-Authorization.html <<<