TEN Holdings Relocates Headquarters to New York City as it Builds Out TEN, its Digital Experience Platform
The acquisition strategy aims to expand technology capabilities, recurring revenue and market presence while the team remains remote.
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Rhea-AI Summary
TEN Holdings (XHLD) has relocated its corporate headquarters from Langhorne, Pennsylvania, to New York City as it builds its TEN platform. The new headquarters at 1 Rockefeller Plaza, 2nd Floor replaces the prior address, effective immediately. The move follows the launch of TEN, a digital experience platform for creating, producing and measuring digital experiences.
The company said the relocation supports its growth strategy outlined in July, placing management closer to investors, financing and acquisition advisors, and enterprise customers. That strategy includes building the technology platform and pursuing acquisitions to expand technology capabilities, recurring revenue and market presence. The company's team will continue to work remotely.
Positive
- Minor point. Forward-looking: it has not happened yet and may not happen.Platform development remains part of TEN Holdings' stated growth strategy.
- Minor point. Forward-looking: it has not happened yet and may not happen.Planned acquisitions aim to expand technology capabilities, recurring revenue and market presence.
Negative
- None.
Details
Market Reaction – XHLD
On Oct 6, the day this news came out, the latest delayed price for XHLD is 2.12% below the previous close. Argus tracked a peak move of +15.7% during the session. Our momentum scanner has recorded 129 alerts for this stock so far that day. The latest delayed price is $0.61. Relative volume is exceptionally heavy at 41.0x the average.
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New headquarters places management at the center of the capital markets and enterprise customer base as the Company executes its technology-led growth strategy
The move follows the launch of TEN and supports the growth strategy the Company outlined in July, which includes building its technology platform and pursuing disciplined strategic acquisitions that expand its technology capabilities, recurring revenue base and market presence.
"TEN changes what this company is, and where we are based should reflect that," said Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings, Inc. "
The Company's team will continue to work remotely.
What the new headquarters supports
- Proximity to the investment community. Institutional investors, analysts and the Company's investor relations advisors are concentrated in
New York , making it easier for management to meet with shareholders and prospective investors in person. - Access to capital markets and deal sources. The location puts management near the bankers, advisors and counsel who take part in financings and technology acquisitions, supporting the Company's strategic acquisition priority.
- Closeness to enterprise customers. Many of the enterprise customers and prospects TEN serves are based in the
New York metro area, from financial services to life sciences. - Visibility. A Midtown Manhattan address strengthens the Company's presence with investors and financial media as it builds TEN into a broader technology platform.
Investor inquiries should continue to be directed to the contact below.
About TEN Holdings, Inc.
TEN Holdings, Inc. (Nasdaq: XHLD) is a technology company built around TEN, a Digital Experience Platform for creating, producing, engaging, marketing and measuring digital experiences, beginning with enterprise events, webinars and continuing education. TEN scales up to 50,000 concurrent attendees and is backed by more than a decade of experience producing mission-critical corporate broadcasts for Fortune 500 clients. The Company plans to expand TEN beyond events and webinars, including AI and automation, landing pages, integrations, engagement, reporting and analytics, and content studio. There can be no assurance as to the timing or availability of these capabilities. The Company is headquartered in New York. To learn more, visit www.tenholdingsinc.com.
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, the development, availability and adoption of TEN and its planned expansion, including AI and automation, landing pages, integrations, engagement, reporting and analytics, and content studio capabilities, the Company's recurring-revenue strategy, potential acquisitions, the anticipated benefits of its new headquarters location, 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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