UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 2, 2022
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Item 8.01. Other Events.
On March 1, 2022 the Board of Directors (the “Board”) of MercadoLibre, Inc. (the “Company”) authorized an increase in its existing share repurchase program by $300,000,000, from an aggregate consideration of up to $150,000,000 to an aggregate consideration of up to $450,000,000. The Board also authorized an extension of the term of the share repurchase program, from August 31, 2022 to August 31, 2023. As of March 1, 2022, the estimated remaining balance available for share repurchases under the share repurchase program was approximately $36 million.
The Company expects to purchase shares at any time and from time to time, in compliance with applicable federal securities laws, through open- market purchases, block trades, derivatives, trading plans established in accordance with SEC rules, or privately negotiated transactions. The timing of repurchases will depend on factors including market conditions and prices, the Company’s liquidity requirements and alternative uses of capital. The share repurchase program may be suspended from time to time or discontinued, and there is no assurance as to the number of shares that will be repurchased or that there will be any repurchases.
Forward-Looking Statements
Any statements herein regarding MercadoLibre, Inc. that are not historical or current facts are forward-looking statements. These forward-looking statements convey MercadoLibre, Inc.’s current expectations or forecasts of future events. Forward-looking statements regarding MercadoLibre, Inc. involve known and unknown risks, uncertainties and other factors that may cause MercadoLibre, Inc.’s actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements. Certain of these risks and uncertainties are described in the “Risk Factors,” “Forward-Looking Statements” and “Cautionary Statement Regarding Forward-Looking Statements” sections of MercadoLibre, Inc.’s annual report on Form 10-K for the year ended December 31, 2021, and any of MercadoLibre, Inc.’s other applicable filings with the Securities and Exchange Commission. Unless required by law, MercadoLibre, Inc. undertakes no obligation to publicly update or revise any forward-looking statements to reflect circumstances or events after the date hereof.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number |
Description | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |
SIGNATURES
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 hereunto duly authorized.
| MercadoLibre, Inc. | |||
|
Dated: March 2, 2022 |
By: | /s/ Pedro Arnt | |
| Name: | Pedro Arnt | ||
| Title: | Chief Financial Officer | ||
EXHIBIT INDEX
Exhibit Number |
Description | |
| 104 | The cover page from this Current Report on Form 8-K, formatted in Inline XBRL. |