UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington D.C. 20549
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Form 6-K
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REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2017
Commission File Number: 001-33429
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Acorn International, Inc.
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19/F, 20th Building, 487 Tianlin Road
Shanghai, 200233
People’s Republic of China
(Address of principal executive office)
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Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F x Form 40-F ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨
Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ¨ No x
If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):82- N/A
Acorn International, Inc.
Form 6-K
TABLE OF CONTENTS
Page | ||||
Signature | 3 | |||
Exhibit 99.1 — Press Release dated February 28, 2017 | 4 |
2
SIGNATURE
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, thereunto duly authorized.
Acorn International, Inc. | ||||
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By: | /s/ Geoffrey Weiji Gao | |||
Name: | Geoffrey Weiji Gao | |||
Title: | Vice President & Chief Financial Officer | |||
Date: February 28, 2017 |
3
Exhibit 99.1
Contact: | ||
Acorn International, Inc. | Compass Investor Relations | |
Ms. Naomi Deng | Ms. Elaine Ketchmere, CFA | |
Phone +86-21-5151-2944 | Phone: +1-310-528-3031 | |
Email: dengqi@chinadrtv.com | Email: Eketchmere@compass-ir.com | |
www.chinadrtv.com | www.compassinvestorrelations.com |
Acorn International Announces the Extension of Share Buyback Plan
SHANGHAI, China, February 28, 2017 – Acorn International, Inc. (NYSE: ATV) ("Acorn" or the "Company"), today announced that its board of directors has approved the extension the Company’s existing share buyback plan for a period of one year. With the extended share buyback plan, Acorn is authorized to continue its repurchase up to US$4 million of its ADSs within a one year period from February 1, 2017 to January 31, 2018.
The Company's proposed repurchases may be made from time to time on the open market at prevailing market prices, in privately negotiated transactions, in block trades and/or through other legally permissible means, depending on market conditions and in accordance with applicable rules and regulations. The timing and extent of any purchases will depend upon market conditions, the trading price of its ADSs and other factors, and are subject to the restrictions relating to volume, price and timing under applicable law. The Company's Board of Directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size. The Company plans to fund repurchases from its existing cash balance.
Safe Harbor Statement
This news release contains forward-looking statements. These statements constitute "forward-looking" statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "anticipates," "believes," "estimates," "expects," "future," "going forward," "intends," "outlook," "plans," "target," "will," and similar statements. Such statements are based on management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties, and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance, or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties, or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.
About Acorn International, Inc.
Acorn is a marketing and branding company in China with a proven track record of developing, promoting and selling a diverse portfolio of proprietary-branded products, as well as well-established and promising new products from third parties. Its business is currently comprised of two main divisions, its direct sales platforms and its nationwide distribution network. For more information visit www.acorninternationalir.com.
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