TEN Holdings, Inc. (NASDAQ:XHLD) ("TEN Holdings" or the "Company"), through its subsidiary, Ten Events, Inc., a technology platform for enterprise-grade webcasts and virtual events, today announced that its Board of Directors has authorized a new share repurchase program of up to $2.0 million and approved the establishment of a strategic technology and engineering relationship with GLSoft Corp. ("GLSoft").

Under the newly authorized share repurchase program, TEN Holdings may repurchase up to $2.0 million of its outstanding common stock through December 31, 2026. Repurchases may be made from time to time through open-market transactions, privately negotiated transactions or other transactions deemed appropriate by the Company, including pursuant to trading plans or arrangements intended to comply with Rule 10b5-1 and/or Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

The timing, price and amount of any repurchases will be determined based on market conditions, the trading price of the Company's common stock, available liquidity, applicable securities laws, contractual restrictions and other relevant factors.

The authorization does not obligate the Company to repurchase any specific number or dollar amount of shares, and the program may be suspended, modified or discontinued at any time.

In connection with the authorization of the new program, the Board also approved the termination of the Company's existing share repurchase program administered through Bancroft Capital, LLC.

Strategic Technology Relationship with GLSoft Corp.

The Board has also authorized TEN Holdings to establish a strategic relationship with GLSoft, providing the Company with the ability to utilize GLSoft's engineering, software development and broader technology capabilities as opportunities arise.

The relationship is expected to provide TEN Holdings with additional flexibility to pursue product engineering, software and technology development, platform integrations, technical support, technology licensing, redistribution, resale and commercialization initiatives.