SHANGHAI, Dec. 28, 2021 / PRNewswire / – ATRenew Inc. (âATRenewâ or the âCompanyâ) (NYSE: RERE), a technology-driven consumer electronic trading and services platform in China, today announced that its Board of Directors has authorized a share buyback program, under which the Company may buy back up to $ 100 million of its shares over a period of twelve months from December 28, 2021.
Redemptions offered by the Company may be made from time to time on the open market at prevailing market prices, in privately traded transactions, in blocks and / or by other legally permitted means, depending on the conditions. market and in accordance with applicable rules and regulations. The Board of Directors of the Company will periodically review the share buyback program and may authorize an adjustment of its terms and size. The Company expects to fund the buybacks from its existing cash balance.
About ATRenew Inc.
Based at Shanghai, ATRenew Inc. operates a technology-driven second-hand consumer electronic services and transactions platform in China under the brand ATRenew. Since its inception in 2011, ATRenew’s mission has been to give all unused goods a second life, addressing the environmental impact of used consumer electronics by facilitating recycling and recycling services. exchange, and distributing devices to extend their life cycle. ATRenew’s open platform integrates C2B, B2B and B2C capabilities to strengthen its online and offline services. With end-to-end coverage of the entire value chain and proprietary inspection, grading and pricing technologies, ATRenew sets the standard for from China used consumer electronics industry.
For more information, please visit: https://ir.atrenew.com
Safe Harbor Declaration
This press release contains statements that may constitute “forward-looking” statements in accordance with the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as “will.” , “Expects”, “anticipates”, “aims”, “future”, “intends”, “foresees”, “believes”, “believes”, “is likely to” and similar statements. Among other things, quotes in this announcement contain forward-looking statements. ATRenew may also make written or oral forward-looking statements in its periodic reports to the United States Securities and Exchange Commission (the âSECâ), in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about ATRenew’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including, but not limited to, the following: ATRenew’s strategies; ATRenew’s future business development, financial condition and results of operations; ATRenew’s ability to maintain its relationship with major strategic investors; its ability to facilitate used consumer electronics transactions and provide relevant services; its ability to maintain and improve the recognition and reputation of its brand; general economic and trade conditions in the world and in China and the assumptions underlying or related to all of the above. Further information regarding these and other risks is included in the documents filed by ATRenew with the SEC. All information provided in this press release is as of the date of this press release, and ATRenew assumes no obligation to update any forward-looking statement, except as required by applicable law.
For more information please contact:
Email: [email protected]
In United States:
Email: [email protected]
Phone. : + 1-212-537-0461