[6-K] Harrison Global Holdings Inc. Current Report (Foreign Issuer)
Harrison Global Holdings Inc. reported that its board has authorized a share repurchase program of up to US$10 million, following its recently implemented reverse stock split. The company may buy back its ordinary shares only when the market trading price is below US$1.00 per share on a post-reverse-split basis. Co-Chairman and Co-CEO Ryoshin Nakade has full authority to decide the timing, amount, price, and method of any repurchases, within legal and regulatory limits. Repurchases can be made through open-market purchases, privately negotiated deals, block trades, Rule 10b5-1 plans, or other permitted methods. The company is not required to repurchase any specific number of shares, and the program can be changed, suspended, or discontinued at any time.
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Insights
Harrison Global authorizes up to US$10M in conditional share repurchases.
Harrison Global Holdings Inc. has authorized a share repurchase program of up to
The board has given Co-Chairman and Co-CEO Ryoshin Nakade broad discretion over timing, size, pricing, and method of repurchases, subject to applicable laws and Nasdaq/SEC rules. Repurchases may occur via open-market purchases, privately negotiated transactions, block trades, Rule 10b5-1 trading plans, or other legally permitted methods, providing multiple execution paths.
The company is not obligated to repurchase any particular number of shares, and the program may be modified, suspended, or discontinued at any time. Actual capital deployed and its effects will depend on future market conditions and management’s choices, as highlighted by the forward-looking statements and risk language.
FAQ
What did Harrison Global Holdings Inc. (BLMZ) announce in this Form 6-K?
Harrison Global Holdings Inc. announced that its board of directors has authorized a share repurchase program allowing the company to buy back up to US$10 million of its ordinary shares under specified conditions.
How large is Harrison Global Holdings Inc.'s new share repurchase program?
The program authorizes Harrison Global Holdings Inc. to repurchase up to US$10 million of its ordinary shares, exclusive of commissions, fees, and related expenses.
At what share price can Harrison Global Holdings Inc. (BLMZ) repurchase its stock?
The company may repurchase its ordinary shares only when the market trading price is below US$1.00 per share on a post-reverse-split basis.
Who controls the share repurchases for Harrison Global Holdings Inc.?
The board delegated full authority to Co-Chairman and Co-CEO Ryoshin Nakade to determine the timing, amount, price, and method of any share repurchases, within applicable legal and regulatory constraints.
What methods can Harrison Global Holdings Inc. use to repurchase its shares?
Repurchases may be conducted through open-market purchases, privately negotiated transactions, block trades, Rule 10b5-1 trading plans, or other methods permitted under applicable law.
Is Harrison Global Holdings Inc. obligated to buy back a specific number of shares?
No. The company is not obligated to repurchase any specific number of shares, and the program can be modified, suspended, or discontinued at any time by the board or Mr. Nakade, subject to disclosure and regulatory requirements.
Does the Harrison Global Holdings Inc. repurchase program involve forward-looking risks?
Yes. The company states that the program involves forward-looking statements and that actual results may differ materially due to changes in market conditions or other factors affecting the company.