GigaCloud Technology Inc filed SEC Form 8-K: Other Events, Financial Statements and Exhibits
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
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Item 8.01 Other Events.
On September 3, 2024, GigaCloud Technology Inc (the “Company”) issued a press release announcing that its Board of Directors (the “Board”) has approved a share repurchase program to repurchase up to $46 million of its Class A ordinary shares over the next 12 months.
Under the share repurchase program, the Company may purchase its ordinary shares through various means, including open market transactions, privately negotiated transactions, block trades, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, price, trading volume and general market conditions, along with the Company’s working capital requirements, general business conditions and other factors. The Company's previous $25 million share repurchase program, announced on June 14, 2023, has been expired. A copy of the press release is furnished as Exhibit 99.1 to this report.
Item 9.01 - Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
| Exhibit No. | Description | |||||||
| 99.1 | ||||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 3rd day of September, 2024.
By: | /s/ Larry Lei Wu | ||||
Name: | Larry Lei Wu | ||||
Title: | Chairman of the Board of Directors and Chief Executive Officer | ||||