Semantix, Inc. (NASDAQ:STIX), Latin America’s first fully integrated data platform, today announced that its Board of Directors has authorized the repurchase of up to $5 million of ordinary shares of the Company over a period of one year.
The ordinary shares repurchases may be effected through open market purchases, including through the use of Rule 10b5-1 trading plans, or privately negotiated transactions. The open market repurchases will be made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, subject to market conditions, applicable legal requirements and other factors. The timing and amount of ordinary shares repurchases made pursuant to the repurchase program are subject to various factors, including, but not limited to, the company’s ordinary shares trading price, regulatory requirements, credit agreement covenants, general market conditions and alternative uses of capital. The Company is not, however, required to acquire any particular amount of ordinary shares at a specific time or price, and repurchases can be discontinued at any time without notice.
