GigaCloud Technology (GCT) announces $16 million buyback plan

GigaCloud Technology Inc (Nasdaq: GCT) announced that on March 28, 2025, its Board of Directors approved an additional $16 million to its Class A ordinary share repurchase program, bringing the total authorization to $62 million from its previously authorized $46 million. The program runs through August 28, 2025.

Under the share repurchase program, the Company may purchase its ordinary shares through various means, including open market transactions, privately negotiated transactions, block trades, any combination thereof or other legally permissible means. The Company may effect repurchase transactions in compliance with Rule 10b5-1 and Rule 10b-18 of the Securities Exchange Act of 1934, as amended. The number of shares repurchased and the timing of repurchases will depend on a number of factors, including, but not limited to, share price and trading volume, and general market conditions, along with the Company’s working capital requirements, general business conditions and other factors. The Company’s board of directors will review the share repurchase program periodically, and may modify, suspend or terminate the share repurchase program at any time. The Company plans to fund repurchases from its existing cash balance.

You May Also Be Interested In

• Emkay Global Starts Urban Company (URBANCO:IN) at Buy (1)
• ICICI Securities Resumes Dalmia Bharat Ltd (DALBHARA:IN) at Add (2)
• Boeing names Ryan Shedd as new SVP and controller