Semantix Announces Increase in Stock Repurchase Plan by $5 million

Rhea-AI Summary

Semantix, Inc. (NASDAQ: STIX) has announced an increase in its stock repurchase plan from up to $5 million to $10 million. This decision was made by the Board of Directors and aims to enhance shareholder value. The repurchases may occur via open market purchases or privately negotiated transactions, adhering to applicable legal requirements and market conditions. The timing and amount of repurchases will depend on various factors including share price and market conditions. Semantix serves over 300 clients across 15 countries, continuing to position itself as a leader in the AI and data software space in Latin America.

Positive

• Increase in stock repurchase plan from $5 million to $10 million, potentially enhancing shareholder value.
• Broad client base of over 300 across 15 countries indicates strong market presence.

Negative

• None.

SÃO PAULO, Brazil, March 29, 2023 (GLOBE NEWSWIRE) -- Semantix, Inc. (NASDAQ: STIX), Latin America’s first fully integrated data and enterprise AI platform, today announced that its Board of Directors has authorized an increase in the Company’s existing stock repurchase plan approved by the Board in November 2022 from up to $5 million to a total of up to $10 million.

The ordinary shares repurchases may be effected through open market purchases, including through the use of Rule 10b5-1 trading plans, or privately negotiated transactions. The open market repurchases will be made in compliance with Rule 10b-18 under the Securities Exchange Act of 1934, subject to market conditions, applicable legal requirements and other factors. The timing and amount of ordinary shares repurchases made pursuant to the repurchase program are subject to various factors, including, but not limited to, the Company’s ordinary shares trading price, regulatory requirements, credit agreement covenants, general market conditions and alternative uses of capital. The Company is not, however, required to acquire any particular amount of ordinary shares at a specific time or price, and repurchases can be discontinued at any time without notice.

About Semantix

Semantix is Latin America’s first fully integrated data software platform. Semantix has more than 300 clients with operations in approximately 15 countries using Semantix’s software and services to enhance their businesses. The Company was founded in 2010 by CEO Leonardo Santos. For more information, visit www.semantix.ai.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the potential repurchase by the Company of its ordinary shares. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target” or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. No assurance can be given that the stock repurchase plan discussed above will be completed on the terms described, or at all. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the Company’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of the Company. These forward-looking statements are subject to a number of risks and uncertainties disclosed in documents that the Company has filed, or will file, with the SEC. In addition, forward-looking statements reflect the Company’s expectations, plans or forecasts of future events and views as of the date of this press release. The Company anticipates that subsequent events and developments may cause its assessments to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s assessment as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

Investor Contact
Adriano Alcalde
CFO & IR
ir@semantix.ai

Press Contact
semantix@rpmacomunicacao.com.br

FAQ

What is the new stock repurchase plan amount for Semantix (STIX)?

The new stock repurchase plan for Semantix has increased to a total of up to $10 million.

Why did Semantix increase its stock buyback plan?

The increase aims to enhance shareholder value as authorized by the Board of Directors.

How will Semantix execute its stock repurchases?

Semantix may execute stock repurchases through open market purchases or privately negotiated transactions.

What factors will influence Semantix's stock repurchase timing and amount?

Factors include the trading price of shares, regulatory requirements, and general market conditions.