Lotus Technology Inc. Buys Back 17.5M ADSs
Ticker: LOTWW · Form: 6-K · Filed: Dec 2, 2024 · CIK: 1962746
| Field | Detail |
|---|---|
| Company | Lotus Technology INC. (LOTWW) |
| Form Type | 6-K |
| Filed Date | Dec 2, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.00001, $175 million, $14.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: share-buyback, sec-filing
TL;DR
Lotus Tech is buying back 17.5M ADSs from Meritz Securities.
AI Summary
On November 29, 2024, Lotus Technology Inc. entered into a share buyback agreement with Meritz Securities Co., Ltd. The agreement involves the repurchase of 17,500,000 American deposit shares (ADSs) by Lotus Technology Inc. from Meritz Securities.
Why It Matters
This share buyback could signal management's confidence in the company's valuation and potentially reduce the number of outstanding shares, which could impact earnings per share.
Risk Assessment
Risk Level: medium — Share buybacks can be positive, but the specific terms and financial impact on Lotus Technology Inc. require further analysis.
Key Numbers
- 17,500,000 — ADSs Repurchased (Number of shares Lotus Technology Inc. agreed to buy back from Meritz Securities.)
Key Players & Entities
- Lotus Technology Inc. (company) — Company repurchasing shares
- Meritz Securities Co., Ltd (company) — Seller of shares
- 17,500,000 (dollar_amount) — Number of American deposit shares to be repurchased
- November 29, 2024 (date) — Date of the share buyback agreement
FAQ
What is the total value of the share buyback agreement?
The filing does not specify the total dollar amount of the share buyback agreement, only the number of American deposit shares (17,500,000).
What is the reason for this share buyback?
The filing does not explicitly state the reason for the share buyback, but it is a common corporate action.
When did the share buyback agreement become effective?
The share buyback agreement was entered into on November 29, 2024.
Who is the counterparty in the share buyback agreement?
The counterparty is Meritz Securities Co., Ltd.
What type of securities are being repurchased?
American deposit shares (ADSs) are being repurchased.
Filing Stats: 581 words · 2 min read · ~2 pages · Grade level 13.4 · Accepted 2024-12-02 17:08:12
Key Financial Figures
- $0.00001 — quo;Ordinary Share”), par value US$0.00001 per share, of the Company. Ordinary Sha
- $175 million — (the “Closing Date”), on US$175 million. Upon Closing, certain provisions unde
- $14.00 — n to acquire certain Meritz Shares at US$14.00 per share if the closing price of the O
Filing Documents
- tm2429886d1_6k.htm (6-K) — 15KB
- tm2429886d1_ex10-1.htm (EX-10.1) — 121KB
- 0001104659-24-124676.txt ( ) — 137KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Lotus Technology Inc. By : /s/ Alexious Kuen Long Lee Name : Alexious Kuen Long Lee Title : Director and Chief Financial Officer Date: December 2, 2024