Item 5. Market for Registrant’s Common Equity
Item 5. Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities.
Market Information.
Our Class A ordinary shares and warrants are traded on Nasdaq under the symbols “AERT” and “AERTW,” respectively.
Holders
As of June 5, 2026, there were 45,914,789 Class A ordinary shares issued and outstanding, held by approximately 37 holders of record and 21,027,801 warrants outstanding held by 4 holders of record. The actual number of shareholders of our Class A ordinary shares and the actual number of holders of our warrants is greater than the number of record holders and includes holders of our Class A ordinary shares or warrants whose Class A ordinary shares or warrants are held in street name by brokers and other nominees.
Dividends
We have never declared or paid any cash dividends on our shares. We currently intend to retain all available funds and future earnings, if any, to fund the development and growth of the business, and therefore, do not anticipate declaring or paying any cash dividends on our Class A ordinary shares in the foreseeable future. Any future determination related to our dividend policy will be made at the discretion of our board of directors after considering our business prospects, results of operations, financial condition, cash requirements and availability, debt repayment obligations, capital expenditure needs, contractual restrictions, covenants in the agreements governing current and future indebtedness, industry trends, the provisions of Cayman Islands law and any other applicable law affecting the payment of dividends and distributions to stockholders and any other factors or considerations the board of directors deems relevant.
Securities Authorized for Issuance Under Equity Compensation Plans
For information required by this item with respect to our equity compensation plans, please see Item 12 of this report.
Unregistered Sales of Equity Securities
None in the fiscal year ended March 31, 2026 which have not been previously reported in the Company’s Current Reports on Form 8-K or Quarterly Reports on Form 10-K.
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Purchase of Equity Securities by the Issuer and Affiliated Purchasers
Shares repurchase activity during the three months ended March 31, 2026, was as follows (in millions, except number of shares, and per-share amounts):
Periods
Total
Number of
Shares
Purchased (1)(2)
Average
Price Paid
Per Share (2)
Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs
Approximate Dollar Value of Shares That May Yet Be Purchased Under the Plans or Programs (1)
January 1, 2026 to January 31, 2026:
-
-
-
-
February 1, 2026 to February 28, 2026:
-
-
-
-
March 1, 2026 to March 31, 2026:
1,712,562
$
0.34
1,712,562
$
4,436,716
Total
1,712,562
$
0.34
1,712,562
$
4,436,716
(1)
On February 25, 2026, the Company authorized a Share Repurchase Program of up to $5.0 million of the Company’s Class A ordinary shares, to be effected over a period of twelve (12) months through February 24, 2027.
In connection therewith, the board approved the adoption of a Rule 10b5-1 issuer share repurchase trading plan on March 23, 2026 (the “Trading Plan”), pursuant to which the Company may repurchase its ordinary shares from time to time in accordance with applicable laws and regulations, including Rule 10b5-1 under the Securities Exchange Act of 1934, as amended. Maximum amount for cumulative purchases under the Trading Plan will not exceed $3.0 million (exclusive of commission). The Company’s Share Repurchase Program does not obligate the Company to acquire a minimum amount of shares. Under the program, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act.
(2)
During the year ended March 31, 2026, as part of our publicly announced program, we purchased 1,712,562 shares of our common stock for an aggregate purchase consideration of $0.58 million, including commission and other charges, representing an average purchase price per share of $0.34.
Item 6. [Reserved]
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