TEN Holdings Announces $2 Million Share Repurchase Program and Strategic Technology Relationship with GLSoft Corp.
TEN Holdings adds a $2 million discretionary buyback and a flexible GLSoft tech relationship to support its platform growth strategy.
Rhea-AI Summary
TEN Holdings (XHLD) authorized a new share repurchase program of up to $2.0 million and a strategic technology relationship with GLSoft Corp..
The buyback authorization runs through December 31, 2026 and allows repurchases of common stock via open-market, privately negotiated or other transactions, including potential Rule 10b5‑1 and 10b‑18 plans. The program is discretionary, may be suspended or discontinued at any time, and replaces a prior repurchase program administered through Bancroft Capital. The GLSoft relationship permits TEN Holdings to tap GLSoft’s engineering, software development and broader technology capabilities on a project-by-project basis without a committed minimum spend, supporting product development, integrations, licensing, resale and commercialization initiatives.
Positive
- New share repurchase authorization of up to $2.0 million through December 31, 2026
- Prior repurchase program terminated and replaced with a broader, discretionary framework
- GLSoft relationship expands access to engineering and software development resources without fixed project or minimum spend commitments
Negative
- None.
News Explained
As of
Sources and calculations
- Second-quarter 2026 financials (2026Q2)
- Available liquidity against the last reported quarterly operating outflow, in days at that rate $5,833,000 / ($1,594,000 / 91) = 333 days
Key Figures
- Repurchase authorization
- $2.0 million
- New share repurchase program
- Program expiration
- December 31, 2026
- Repurchase authorization
Previous Buybacks Reports
-
Board authorized a $1 million repurchase program under a Rule 10b-18 plan.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
rule 10b5-1 regulatory
rule 10b-18 regulatory
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Under the newly authorized share repurchase program, TEN Holdings may repurchase up to
The timing, price and amount of any repurchases will be determined based on market conditions, the trading price of the Company's common stock, available liquidity, applicable securities laws, contractual restrictions and other relevant factors.
The authorization does not obligate the Company to repurchase any specific number or dollar amount of shares, and the program may be suspended, modified or discontinued at any time.
In connection with the authorization of the new program, the Board also approved the termination of the Company's existing share repurchase program administered through Bancroft Capital, LLC.
"We believe the authorization of this new share repurchase program provides us with an additional tool to strategically allocate capital while maintaining the flexibility necessary to continue investing in the growth of our business," said Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings, Inc. "Following the strengthening of our balance sheet earlier this year, we believe it is important to maintain a disciplined approach to capital allocation. This authorization allows us to evaluate opportunistic repurchases when we believe they represent an attractive use of capital, while continuing to prioritize investments in technology, product development and long-term growth."
Strategic Technology Relationship with GLSoft Corp.
The Board has also authorized TEN Holdings to establish a strategic relationship with GLSoft, providing the Company with the ability to utilize GLSoft's engineering, software development and broader technology capabilities as opportunities arise.
The relationship is expected to provide TEN Holdings with additional flexibility to pursue product engineering, software and technology development, platform integrations, technical support, technology licensing, redistribution, resale and commercialization initiatives.
Rather than committing the Company to a specific project or minimum expenditure, the authorization enables management to identify and pursue individual development and technology initiatives with GLSoft when management determines that doing so is beneficial to the Company and consistent with its strategic objectives.
"Expanding our technology and engineering capabilities is a critical component of where we want to take TEN Holdings," Torres continued. "Our objective is to evolve beyond a traditional webinar and virtual-events offering and build a broader, more scalable technology platform. Having the ability to leverage additional engineering and development resources through relationships such as GLSoft gives us greater flexibility to accelerate product development, evaluate new technologies and bring additional capabilities to market."
The GLSoft authorization complements TEN Holdings' previously announced strategy to invest in expanded product functionality, automation, analytics, artificial intelligence and other technologies designed to increase the scalability of its platform and broaden its addressable market.
About TEN Holdings, Inc.
TEN Holdings, Inc. (Nasdaq: XHLD) is a technology company for enterprise-grade virtual events, offering a self-service platform through its subsidiary, Ten Events, Inc., that scales to over 100,000 concurrent attendees at
Forward-Looking Statements
Certain statements contained in this press release may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to, statements regarding the Company's growth strategy and participation in industry conferences, and the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission (the "SEC") and other filings with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and TEN Holdings, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.
For more information, please contact:
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: IR@skylineccg.com
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SOURCE TEN Holdings, Inc.
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