Agora, Inc. Announces US$200 Million Share Repurchase Program
22 Febbraio 2022 - 11:00PM
Agora, Inc. (NASDAQ: API) (“Agora”), a pioneer and leading platform
for real-time engagement APIs, today announced that its board of
directors (the “Board”) has authorized a share repurchase program
under which Agora may repurchase up to US$200 million of its Class
A ordinary shares in the form of American depositary shares over
the next 12 months, subject to relevant rules under the Securities
Exchange Act of 1934, as amended, and Agora’s insider trading
policy.
“The share repurchase program demonstrates the
Board’s confidence in the fundamentals, strategies and long-term
growth potential of Agora,” commented Tony Zhao, founder, chairman,
and CEO of Agora. “It reflects our commitment to enhancing
shareholder value, and our strong cash position will enable us to
continue to invest in our technology and business expansion at the
same time.”
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. The Board will
review the share repurchase program periodically and may authorize
adjustment of its terms and size or suspend or discontinue the
program. Agora expects to fund repurchases made under this program
from its existing cash balance.
Safe Harbor Statements
This press release contains ‘‘forward-looking
statements’’ within the meaning of Section 27A of the Securities
Act of 1933, as amended and Section 21E of the Securities Exchange
Act of 1934, as amended and the Private Securities Litigation
Reform Act of 1995. All statements other than statements of
historical or current fact included in this press release are
forward-looking statements, including but not limited to statements
regarding Agora’s financial outlook, beliefs and expectations.
Forward-looking statements include statements containing words such
as “expect,” “anticipate,” “believe,” “project,” “will” and similar
expressions intended to identify forward-looking statements. These
forward-looking statements are based on Agora’s current
expectations and involve risks and uncertainties. Agora’s actual
results and the timing of events could differ materially from those
anticipated in such forward-looking statements as a result of these
risks and uncertainties, which include, without limitation, risks
related to the growth of the RTE-PaaS market; Agora’s ability to
manage its growth and expand its operations; the continued impact
of the COVID-19 pandemic on global markets and Agora’s business,
operations and customers; Agora’s ability to attract new developers
and convert them into customers; Agora’s ability to retain existing
customers and expand their usage of Agora’s platform and products;
Agora’s ability to drive popularity of existing use cases and
enable new use cases, including through quality enhancements and
introduction of new products, features and functionalities; Agora’s
fluctuating operating results; competition; the effect of broader
technological and market trends on Agora’s business and prospects;
general economic conditions and their impact on customer and
end-user demand; and other risks and uncertainties included
elsewhere in our filings with the Securities and Exchange
Commission, including, without limitation, the final prospectus
related to the IPO filed with the SEC on June 26, 2020. You are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date of this press release.
All forward-looking statements are qualified in their entirety by
this cautionary statement, and Agora undertakes no obligation to
revise or update any forward-looking statements to reflect events
or circumstances after the date hereof.
About Agora
Agora’s mission is to make real-time engagement
ubiquitous, allowing everyone to interact with anyone, in any app,
anytime and anywhere. Agora’s cloud platform provides developers
simple, flexible and powerful application programming interfaces,
or APIs, to embed real-time video, voice and chat experiences into
their applications. Agora maintains dual headquarters in Shanghai,
China and Santa Clara, California.
For more information, please visit:
www.agora.io.
Investor Contact:
Fionna Chen
investor@agora.io
Media Contact:
Suzanne Nguyen
press@agora.io
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