Classover unveils $2 million share buyback program

Classover Holdings Inc., a leading company in the AI edtech sector, recently announced a significant development aimed at maximizing shareholder value. The company’s board of directors has approved a $2 million share repurchase program that will allow Classover to buy back its Class B common stock.

The purpose of this Share Repurchase Program is to demonstrate the Board’s confidence in the long-term growth potential of Classover within the AI edtech industry. This move reflects the positive outlook the Company has regarding its operational trajectory and future prospects.

Under this program, Classover has been authorized to repurchase up to $2,000,000.00 worth of outstanding shares of its Class B common stock. The repurchase may be executed through various methods such as open market purchases, block trades, or other means in compliance with Rule 10b-18 of the Securities Exchange Act of 1934. The timing and volume of these repurchases will be determined by management based on market conditions, share price, and liquidity needs.

Funding for the share repurchase is expected to come from Classover’s existing cash reserves and its future operating cash flows. All repurchased shares will either be held as treasury stock or canceled, depending on the company’s requirements.

It is essential to note that the Share Repurchase Program does not bind Classover to acquire a specific number of shares, offering the flexibility to adjust, suspend, or terminate the program as needed based on corporate considerations.

CEO of Classover, Luo Hui, commented on the company’s decision, stating, “Following our recent fiscal milestones, we believe the current market valuation does not fully reflect Classover’s operational progress and the significant opportunities within our digital learning platform.” He emphasized the importance of returning value to shareholders and maintaining the ability to invest in the company’s long-term vision for global education.

Classover Holdings Inc. (NASDAQ: KIDZ) is a K-12 online education company leveraging over 420,000 hours of live teaching experience to develop AI-powered learning systems. By integrating artificial intelligence and blockchain verification, Classover aims to revolutionize education infrastructure making learning measurable, verifiable, and globally interconnected.

It is important to understand that forward-looking statements contained in this press release are based on Classover’s current beliefs, expectations, and assumptions regarding the future of the company. These statements are not guarantees of future performance but provide insights into Classover’s outlook, strategies, and anticipated developments. The company’s ability to succeed and grow is subject to various uncertainties and risks, some of which are beyond its control.

Overall, the Share Repurchase Program introduced by Classover is a strategic move aimed at enhancing shareholder value and demonstrating the company’s confidence in its future growth and operational success within the AI edtech industry.