UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Emerging growth company
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Item 8.01. Other Events.
Extension of Stock Repurchase Program
On November 1, 2024, the board of directors of Moatable, Inc. (the “Company”) approved an extension of a previously established share repurchase program (the “Repurchase Program”). Pursuant to the Repurchase Program, the Company can repurchase up to $15 million worth of its shares (including in the form of American depositary shares) at the discretion of the Company’s management team. The Repurchase Program was set to expire on December 31, 2024, but the Company’s board of directors elected to extend the Repurchase Program through December 31, 2026.
Under the Repurchase Program, the Company may, but is not obligated to, repurchase its outstanding shares in the open market from time to time provided that the Company complies with the prohibitions under the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. To date, approximately $11.8 million worth of repurchases have been made by the Company under the Repurchase Program. The timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. There are no assurances that the Company will engage in additional repurchases, but if market conditions warrant, the Company now has an extended period of time to take advantage of situations where the Company’s management believes share repurchases would be advantageous to the Company and to its shareholders.
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 hereunto duly authorized.
| MOATABLE, INC. | |||
| By: | /s/ Scott Stone | ||
| Date: | November 1, 2024 | Scott Stone | |
| Chief Financial Officer | |||