false 0001509223 00-0000000 0001509223 2024-11-01 2024-11-01 0001509223 RENN:AmericanDepositarySharesEachRepresenting45ClassOrdinarySharesMember 2024-11-01 2024-11-01 0001509223 RENN:ClassOrdinarySharesParValue0.001PerShareMember 2024-11-01 2024-11-01 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

 

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

  

FORM 8-K

 

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): November 1, 2024

 

 

  

Moatable, Inc.

(Exact Name of Registrant as specified in its charter)

 

Commission file number: 001-35147

 

Cayman Islands

45 West Buchanan Street,

Phoenix, Arizona, 85003

 Not Applicable
(State or other jurisdiction of
incorporation or organization)		 (Address of principal executive offices,
including zip code)		 (I.R.S. Employer
Identification No.)
     
  (833) 258-7482  
 

(Registrant’s telephone number,

including area code)

  

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

  

Title of each class

Trading

Symbol(s)

Name of each exchange on which

registered

American depositary shares, each representing 45 Class A ordinary shares MTBLY OTC Pink
Class A ordinary shares, par value $0.001 per share* MTBLY OTC Pink

 

* Not for trading, but only in connection with the listing and trading of American depositary shares on OTC Pink.

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

 

 

 

 

 

 

Item 8.01. Other Events.

 

Extension of Stock Repurchase Program

 

On November 1, 2024, the board of directors of Moatable, Inc. (the “Company”) approved an extension of a previously established share repurchase program (the “Repurchase Program”). Pursuant to the Repurchase Program, the Company can repurchase up to $15 million worth of its shares (including in the form of American depositary shares) at the discretion of the Company’s management team. The Repurchase Program was set to expire on December 31, 2024, but the Company’s board of directors elected to extend the Repurchase Program through December 31, 2026.

 

Under the Repurchase Program, the Company may, but is not obligated to, repurchase its outstanding shares in the open market from time to time provided that the Company complies with the prohibitions under the guidelines specified in Rule 10b-18 of the Securities Exchange Act of 1934, as amended, including certain price, market volume and timing constraints. To date, approximately $11.8 million worth of repurchases have been made by the Company under the Repurchase Program. The timing and number of shares to be repurchased will depend on a number of factors, including market conditions and alternative investment opportunities. There are no assurances that the Company will engage in additional repurchases, but if market conditions warrant, the Company now has an extended period of time to take advantage of situations where the Company’s management believes share repurchases would be advantageous to the Company and to its shareholders.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  MOATABLE, INC.
     
  By:  /s/ Scott Stone
Date: November 1, 2024   Scott Stone
    Chief Financial Officer

 

 

 

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Cover
Nov. 01, 2024
Document Information [Line Items]  
Document Type 8-K
Amendment Flag false
Document Period End Date Nov. 01, 2024
Entity File Number 001-35147
Entity Registrant Name Moatable, Inc.
Entity Central Index Key 0001509223
Entity Tax Identification Number 00-0000000
Entity Incorporation, State or Country Code E9
Entity Address, Address Line One 45 West Buchanan Street
Entity Address, City or Town Phoenix
Entity Address, State or Province AZ
Entity Address, Postal Zip Code 85003
City Area Code 833
Local Phone Number 258-7482
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
American Depositary Shares Each Representing 45 Class Ordinary Shares [Member]  
Document Information [Line Items]  
Title of 12(b) Security American depositary shares, each representing 45 Class A ordinary shares
Trading Symbol MTBLY
Class Ordinary Shares Par Value 0. 001 Per Share [Member]  
Document Information [Line Items]  
Title of 12(b) Security Class A ordinary shares, par value $0.001 per share*
Trading Symbol MTBLY
Moatable (PK) (USOTC:MTBLY)
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