LAIX Inc. Announces Share Repurchase Program
LAIX Inc. American Depositary Shares, each representing fourteen Class A Ordinary Share (LAIX)
Last laix inc. american depositary shares, each representing fourteen class a ordinary share earnings: 3/12 07:00 pm
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Source: Business Wire
SHANGHAI--(BUSINESS WIRE)--LAIX Inc. (“LAIX” or the “Company”) (NYSE: LAIX), an artificial intelligence (AI) company in China that creates and delivers products and services to popularize English learning, today announced that its board of directors has authorized a share repurchase program under which the Company may repurchase up to US$20 million of its outstanding American depositary shares over the next 12 months, subject to relevant rules under the Securities Exchange Act of 1934, as amended, and the Company’s insider trading policy.The share repurchases may be made from time to time in the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. LAIX’s board of directors will review the share repurchase program periodically and may authorize adjustment of its terms and size. The Company expects to fund r
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