Trident Digital Tech Holdings Ltd (NASDAQ: TDTH), a Singapore-based digital identity and Web3 technology company, today announced that its Chief Executive Officer, Soon Huat Lim, intends to purchase up to 1,000,000 of the Company’s Class B ordinary shares in the open market using his personal funds, at prices not to exceed US$1.00 per share.
Lim’s purchases will be executed in an expeditious manner within an appropriate timeframe following this announcement, through a registered broker and in accordance with applicable securities laws. Lim intends to report his purchases on Form 4 with the U.S. Securities and Exchange Commission, giving shareholders direct visibility into every share acquired.
Every share Lim purchases under this program will be subject to the same lock-up and leak-out terms entered into by the Company’s September investors, as announced on October 20. The Chief Executive Officer is placing his personal capital under the same holding discipline he asked of the Company’s investors — buying in the open market, holding on the same terms, and reporting publicly.
As of October 28, Lim beneficially owns approximately 8.92% of the Company’s outstanding shares. The purchase program follows a series of balance-sheet and shareholder-alignment actions announced by the Company in recent weeks, including the conversion of approximately US$8 million of obligations into equity and the execution of the lock-up and leak-out agreement by a majority of the September investors.
TDTH shares let go of 0.7 cents, or 0.4%, to 59 cents.
Tech Insider
