Asset Entities (ASST) Announces Stock Repurchase Program

Asset Entities Inc. (“Asset Entities” or the “Company”) (NASDAQ: ASST), a provider of digital marketing and content delivery services across Discord and other social media platforms, today announced that the Company's Board of Directors has approved a stock repurchase program to purchase up to an aggregate of 1,250,000 shares of its outstanding Class B Common Stock. Acquisitions pursuant to this stock repurchase program may be made through a combination of open market repurchases in compliance with Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended, privately negotiated transactions, and/or other transactions at the Company’s discretion. The stock repurchase program will expire on November 21, 2024, unless otherwise modified by the Board of Directors.

"This stock buyback program reflects our firm commitment to maximizing shareholder value,” said Asset Entities Chief Executive Officer Arshia Sarkhani. “We believe our business is strong and dynamic as we move forward with the objective of growing our business in the coming quarters.”

The Company expects to finance any stock repurchases with existing cash balances. The stock repurchase program may be suspended or discontinued at any time and does not obligate the Company to acquire any amount of common stock. As of November 27, 2023, 5,639,134 shares of Class B Common Stock were outstanding.

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