SEATTLE, Oct. 21,
2024 /PRNewswire/ -- Mynd.ai, Inc. ("Mynd" or the
"Company") (NYSE American: MYND) today announced that the Company's
Board of Directors has authorized the repurchase of up to
$10 million of its American
depositary shares ("ADSs") and/or ordinary shares as market
conditions and the Company's liquidity warrant.
"We are committed to delivering long-term value to our
shareholders and we believe that the potential to repurchase our
shares and ADSs at these levels represents a compelling opportunity
to deploy available cash to do so," stated Vin Riera, Mynd's Chief Executive
Officer. Riera added, "The share repurchase program, combined
with our recently announced strategic initiatives, including the
sale of a non-strategic business for $20
million, reflect both our confidence in the strength of our
business as well as our ongoing efforts to bolster our financial
position and enhance long-term shareholder value."
Repurchases may be made from time to time, subject to applicable
securities laws, through open-market purchases, privately
negotiated transactions or by other means (including Rule 10b5-1
and Rule 10b5-18 compliant trading plans). Depending on market
conditions and other factors, these repurchases may be commenced or
suspended from time to time without prior notice. There can be no
assurances how many ADS/shares, if any, the Company may
repurchase.
Forward-Looking Statements
This press release contains "forward-looking statements," within
the meaning of Section 27A of the Securities Act of 1933, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended. Forward-looking statements reflect Mynd's current
expectations and projections about future events at the time, and
thus involve uncertainty and risk. The words "believe," "expect,"
"anticipate," "will," "could," "would," "should," "may," "plan,"
"estimate," "intend," "predict," "potential," "continue,"
"optimistic," and the negatives of these words and other similar
expressions generally identify forward looking statements. Such
forward-looking statements are subject to various risks and
uncertainties, including those described under the section entitled
"Risk Factors" in Mynd's Annual Report on Form 20-F, filed with the
SEC on March 27, 2024, as such
factors may be updated from time to time in Mynd's periodic filings
with the SEC, which are accessible on the SEC's website at
www.sec.gov. Accordingly, there are or will be important factors
that could cause actual outcomes or results to differ materially
from those indicated in these statements. These factors should not
be construed as exhaustive and should be read in conjunction with
the other cautionary statements that are included in this release
and in Mynd's filings with the SEC. While forward-looking
statements reflect Mynd's good faith beliefs, they are not
guarantees of future performance. Mynd disclaims any obligation to
publicly update or revise any forward-looking statement to reflect
changes in underlying assumptions or factors, new information, data
or methods, future events or other changes after the date of this
press release, except as required by applicable law.
About Mynd.ai, Inc.
Seattle-based Mynd is a global
leader in interactive technology offering best-in-class hardware
and software solutions that help organizations create and deliver
dynamic content; simplify and streamline teaching, learning, and
communication; and facilitate real-time collaboration. Our
award-winning interactive displays and software can be found in
more than 1 million learning and training spaces across 126
countries. Our global distribution network of more than 4,000
reseller partners and our dedicated sales and support teams around
the world enable us to deliver the highest level of service to our
customers.
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SOURCE Mynd.ai