#China #Tender Offer #Xiamen #ADSs #High Templar

High Templar Tech Initiates Tender Offer for ADSs

High Templar Tech Limited, traded on the NYSE under the symbol HTT, has officially commenced a modified Dutch auction tender offer. The company aims to repurchase as many as 39 million of its American Depositary Shares (ADSs), which represent its Class A ordinary shares. The purchase price for the shares is set between $2.80 and $3.20 per ADS, excluding applicable taxes and interest, with the offer set to expire on June 24, 2026.

Understanding the Modified Dutch Auction Tender Offer

A tender offer provides shareholders with the opportunity to sell their shares back to the company, and in this case, High Templar is conducting a modified Dutch auction. This means that shareholders can specify the number of ADSs they wish to tender and the price they are willing to accept within the given range. The company will then evaluate the responses and determine the minimum price that allows for the desired purchase of ADSs.

High Templar has reserved the right to increase the number of ADSs sought in the offer by up to 2% over its outstanding shares, should more than 39 million ADSs be tendered. Notably, all shares accepted in this tender offer will be purchased at the same price, regardless of the prices at which individual shareholders tendered their shares.

Conditions and Recommendations

The tender offer is not contingent on obtaining financing or achieving a minimum number of shares to be tendered. It does, however, come with specific conditions outlined in the official offer documents. While the Board of Directors of High Templar has authorized this tender offer, neither the company, its Board, nor any associated parties are making recommendations regarding whether shareholders should participate in the offer.

Shareholders must decide independently whether to tender their ADSs, and if so, how many and at what price. It is advised that they carefully review the tender offer documents and seek advice from financial and tax professionals.

Future Plans and Market Activity

This tender offer is part of High Templar's broader $300 million share repurchase program announced back in March 2024. Following the expiration of this tender offer, the company may continue to repurchase shares through open market purchases in compliance with regulatory guidelines and prevailing market conditions.

Deutsche Bank Securities Inc. serves as the dealer manager for the tender offer, and they can be contacted for inquiries related to the offer. Questions can also be directed to D.F. King & Co., Inc., which has been appointed as the information agent for the offer.

For further information about participating in the tender offer, shareholders will receive the necessary documentation and communications from their brokerage or custodial entities. The official completion of the transaction will hinge on the terms as outlined in the company’s filing with the U.S. Securities and Exchange Commission (SEC).

About High Templar Tech

High Templar Tech Limited is committed to exploring innovative opportunities on a global scale, utilizing its expertise in technology and financial services to meet customer demands. For additional insights, shareholders and interested parties can visit the company's investor relations page.

This tender offer represents a significant moment for High Templar as it seeks to engage more deeply with its investors while positioning itself for future growth. The company’s proactive approach in repurchasing shares indicates confidence in its operational strategies and market position.