ATRenew announced that its board of directors has authorized an extension of the company’s existing share repurchase program for another twelve-month period starting from December 28, with all other terms remain unchanged. The company’s board of directors adopted the existing share repurchase program on December 28, 2021, pursuant to which the company may repurchase up to $100M of its shares over a twelve-month period starting from December 28, 2021. As of December 9, the company has repurchased $33M of its shares. As a result, the company may continue to repurchase up to $67M of its shares until the expiration of the extended share repurchase program. The company’s proposed repurchases may be made from time to time on 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 company’s board of directors will review the extended share repurchase program periodically, and may authorize adjustment of its terms and size. The company expects to fund the repurchases from its existing cash balance.
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