Classover approves $2 million share repurchase program

Classover Holdings Inc. (NASDAQ: KIDZ) announced that its board of directors has approved a share repurchase program allowing the company to buy back up to $2 million of its Class B common stock.

The AI education technology company said the program is designed to enhance shareholder value and reflects the board's confidence in the company's long-term growth prospects. The repurchases may be executed through open market purchases, block trades, or other methods in compliance with Securities Exchange Act regulations.

Management will determine the timing and volume of repurchases based on market conditions, share price, and liquidity needs. The company expects to fund the program through existing cash reserves and future operating cash flows.

"We believe the current market valuation does not fully reflect Classover's operational progress and the significant opportunities within our digital learning platform," said Luo Hui, CEO of Classover. "We believe now is an appropriate time to begin returning value to our shareholders while maintaining the flexibility to continue investing in our long-term vision for global education."

All repurchased shares will be held as treasury stock or cancelled. The program does not obligate the company to acquire any specific number of shares and may be modified, suspended, or terminated at any time.

Classover describes itself as a K-12 online education company that transforms live teaching experience into AI-powered learning systems. The company reports having over 420,000 hours of live teaching experience incorporated into its platform.

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