SuperX AI (SUPX) unveils US$20M ordinary share buyback plan
Rhea-AI Filing Summary
SuperX AI Technology Limited announced that its board has authorized a share repurchase program allowing the company to buy back up to US$20 million of its ordinary shares over the next twelve months. Repurchases may be carried out in the open market or through privately negotiated transactions, in line with applicable securities laws, including the safe harbor provisions of Rule 10b-18 and pursuant to Rule 10b5-1 trading plans. The company is not required to repurchase any specific number of shares, and the program may be suspended or discontinued at any time, giving management flexibility to adjust based on market conditions, liquidity, and regulatory requirements.
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Insights
SuperX AI authorizes up to US$20M in flexible share repurchases.
SuperX AI Technology Limited has authorized a share repurchase program of up to
The company states that repurchases will comply with Rule 10b-18 under the U.S. Securities Exchange Act of 1934 and may be conducted under Rule 10b5-1 trading plans. These frameworks are designed to structure buybacks to reduce market-manipulation concerns and allow trading under pre-set plans, including during blackout periods.
The authorization does not obligate SuperX AI to repurchase any specific number of shares and may be suspended or discontinued at any time. Actual buyback activity will therefore depend on management decisions in response to market conditions, liquidity, and regulatory requirements, as referenced in the announcement.