Langhorne, Pennsylvania – – September 19, 2026 -- TEN Holdings, Inc. (Nasdaq: XHLD) has authorized a new $2.0 million share repurchase program running through December 31, 2026, while simultaneously approving a strategic technology and engineering relationship with GLSoft Corp. The dual moves mark a shift in capital strategy for the virtual-events technology company, which operates its platform through subsidiary Ten Events, Inc.
Board terminates Bancroft-administered buyback in favor of new $2 million authorization
The new repurchase program replaces TEN Holdings' prior buyback arrangement administered through Bancroft Capital, LLC, which the Board has formally terminated. Repurchases under the new authorization may occur via open-market transactions, privately negotiated deals, or Rule 10b5-1 and Rule 10b-18 trading plans. The Company has not committed to a specific dollar amount or share count and retains the right to suspend or modify the program at any time. Chairman and CEO Virgilio Torres said the authorization follows a balance-sheet strengthening earlier in 2026 and gives the Company a disciplined tool for opportunistic capital allocation while continuing to fund technology and product investment.
GLSoft partnership gives TEN Holdings on-demand access to engineering resources without fixed spending commitments
Separately, the Board authorized a strategic relationship with GLSoft Corp. that grants TEN Holdings access to engineering, software development and broader technology capabilities as needed. The arrangement covers product engineering, platform integrations, technical support, technology licensing, and resale or commercialization initiatives, but does not obligate the Company to any specific project or minimum expenditure. Management retains discretion to activate individual initiatives with GLSoft when deemed strategically beneficial.
Torres said the GLSoft relationship is intended to help TEN Holdings move beyond a traditional webinar and virtual-events offering toward a broader, more scalable technology platform. The move builds on the Company's stated roadmap to expand automation, analytics and artificial intelligence capabilities across its Ten Events Pro platform, which the Company says scales to more than 100,000 concurrent attendees at 99.99% uptime for enterprise clients, including Fortune 500 accounts.