High Templar Tech Limited (NYSE: HTT) announced it has commenced a modified Dutch auction tender offer to repurchase up to 39 million American Depositary Shares at prices ranging from $2.80 to $3.20 per ADS.

The tender offer will expire at 5:00 P.M. New York City time on June 24, 2026, unless extended or terminated earlier. Each ADS represents one Class A ordinary share with a par value of $0.0001.

Under the modified Dutch auction format, shareholders can specify how many ADSs they wish to tender and at what price within the stated range. The company will determine the lowest price per ADS in $0.05 increments that enables the purchase of 39 million ADSs or fewer shares that are properly tendered.

If more than 39 million ADSs are tendered, High Templar may increase the number of shares sought by up to 2% of outstanding ADSs without extending the deadline. All purchased ADSs will be bought at the same price, regardless of individual tender prices.

The tender offer operates under the company's $300 million share repurchase program announced in March 2024. The offer is not conditional on financing or a minimum number of shares being tendered, though other conditions apply as specified in the offer documents.

Deutsche Bank Securities Inc. serves as dealer manager for the tender offer. D.F. King & Co., Inc. acts as information agent, while Equiniti Trust Company, LLC serves as depositary.

The company's board of directors authorized the tender offer but makes no recommendation to shareholders regarding participation. High Templar Tech trades on the New York Stock Exchange under the ticker HTT.