UTStarcom Holdings Corp. announces an Equity Buyback for 3,883,875 shares, for $9.87 million.

UTStarcom Holdings Corp. (NasdaqGS:UTSI) announces a share repurchase program. Under the program, the company will repurchase up to 3,883,875 shares from SoftBank America Inc. at a price of $2.54 per ordinary shares, for a total of $9.86 million.

The repurchases are pursuant to purchase and sale agreement entered by UTStarcom Holdings Corp. and Shah Capital Opportunity Fund LP with SoftBank America Inc. Pursuant to the agreement, Shah Capital Opportunity Fund LP is acquiring 1,000,000 of the UTStarcom Holdings Corp.'s ordinary shares from SoftBank America Inc.