Summary
4.00 0.11(2.83%)10/04/2024
RISE Education Cayman Ltd (NAAS)
RISE Education Cayman Ltd (NAAS)
Key Facts
| 1 Day | 1 Week | 1 Month | 3 Months | 6 Months | 1 Year | 5 Years | All Time |
| 2.83 | 8.47 | -21.95 | -62.13 | -75.85 | -75.76 | 0.00 | -93.76 |
Last 730 data points are shown. To view all data, Upgrade to PRO plan with only $1
| Trading Data | ||
| Close | 4.00 | |
| Open | 4.00 | |
| High | 4.22 | |
| Low | 3.89 | |
| Volume | 248,833 | |
| Change | 0.11 | |
| Change % | 2.83 | |
| Avg Volume (20 Days) | 740,066 | |
| Volume/Avg Volume (20 Days) Ratio | 0.34 | |
| 52 Week Range | 1.07 - 12.78 | |
| Price vs 52 Week High | -68.70% | |
| Price vs 52 Week Low | 273.83% | |
| Range | 5.79 | |
| Gap Up/Down | -0.02 | |
Fundamentals | ||
| Market Capitalization (Mln) | 45 | |
| EBIDTA | 0 | |
| PE Ratio | 0.0000 | |
| PEG Ratio | 0.0000 | |
| WallStreet Target Price | 4.70 | |
| Book Value | 0.0000 | |
| Earnings Per Share | 0.0000 | |
| EPS Estimate Current Quarter | 0.0000 | |
| EPS Estimate Next Quarter | 0.0000 | |
| EPS Estimate Current Year | 0.0000 | |
| EPS Estimate Next Year | 0.0000 | |
| Diluted EPS (TTM) | 0.0000 | |
| Revenues | ||
| Profit Marging | 0.0000 | |
| Operating Marging (TTM) | 0.0000 | |
| Return on asset (TTM) | 0.0000 | |
| Return on equity (TTM) | 0.0000 | |
| Revenue TTM | 0 | |
| Revenue per share TTM | 0.0000 | |
| Quarterly Revenue Growth (YOY) | 0.0000 | |
| Quarterly Earnings Growth (YOY) | 0.0000 | |
| Gross Profit (TTM) | 0 | |
| Dividends | ||
| Dividend Share | 0.0000 | |
| Dividend Yield | ||
| Valuations | ||
| Trailing PE | 0.0000 | |
| Forward PE | 0.0000 | |
| Price Sales (TTM) | 0.0000 | |
| Price Book (MRQ) | 0.0000 | |
| Revenue Enterprise Value | 0.0000 | |
| EBITDA Enterprise Value | 0.0000 | |
| Shares | ||
| Shares Outstanding | 0 | |
| Shares Float | 0 | |
| Shares Short | 0 | |
| Shares Short (Prior Month) | 0 | |
| Shares Ratio | 0.00 | |
| Short Outstanding (%) | 0.00 | |
| Short Float (%) | 0.00 | |
| Insider (%) | 0.00 | |
| Institutions (%) | 0.15 | |
10/02 11:51 EST - gurufocus.com
NAAS Gains Over 14% After Joining China ESG Alliance
On Wednesday, NaaS Technology Inc. (NAAS, Financial) saw its stock rise significantly, gaining over 14% to reach $4.01 per share.
NAAS Gains Over 14% After Joining China ESG Alliance
On Wednesday, NaaS Technology Inc. (NAAS, Financial) saw its stock rise significantly, gaining over 14% to reach $4.01 per share.
10/02 08:00 EST - prnewswire.com
NaaS Technology Inc. Joins China ESG Alliance as the First Member in EV Charging Service Sector
BEIJING , Oct. 2, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has joined the China ESG Alliance as the first member from China's electric vehicle charging sector. This strategic move highlights NaaS's dedication to advancing sustainable practices and enhancing green, low-carbon initiatives across the industry.
NaaS Technology Inc. Joins China ESG Alliance as the First Member in EV Charging Service Sector
BEIJING , Oct. 2, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has joined the China ESG Alliance as the first member from China's electric vehicle charging sector. This strategic move highlights NaaS's dedication to advancing sustainable practices and enhancing green, low-carbon initiatives across the industry.
09/26 08:00 EST - prnewswire.com
NaaS Technology Inc. Announces Strategic Partnership with IM Motors
BEIJING , Sept. 26, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced a strategic partnership with IM Motors, an electric vehicle joint venture among Alibaba, SAIC Motor, and Zhangjiang Hi-Tech, focused on the design and manufacture of high-end intelligent electric vehicles.
NaaS Technology Inc. Announces Strategic Partnership with IM Motors
BEIJING , Sept. 26, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced a strategic partnership with IM Motors, an electric vehicle joint venture among Alibaba, SAIC Motor, and Zhangjiang Hi-Tech, focused on the design and manufacture of high-end intelligent electric vehicles.
08/12 08:00 EST - prnewswire.com
NaaS Technology Inc. Appoints New Chief Financial Officer
BEIJING , Aug. 12, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that Mr. Alex Wu, President, Chief Financial Officer and Director of the Company, resigned from the Company for personal reasons, effective August 9, 2024.
NaaS Technology Inc. Appoints New Chief Financial Officer
BEIJING , Aug. 12, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that Mr. Alex Wu, President, Chief Financial Officer and Director of the Company, resigned from the Company for personal reasons, effective August 9, 2024.
07/25 23:22 EST - seekingalpha.com
NaaS Technology Inc. (NAAS) Q2 2024 Earnings Call Transcript
NaaS Technology Inc. (NASDAQ:NAAS ) Q2 2024 Earnings Conference Call July 24, 2024 8:00 AM ET Company Participants John Wang - Director of Investor Relations Wang Yang - Chief Executive Officer Alex Wu - President and Chief Financial Officer Conference Call Participants Ting Song - Goldman Sachs James Zou - UBS Ethan Zhang - Nomura Zoe Feng - Tianfeng Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to the NaaS Second Quarter and First Half 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
NaaS Technology Inc. (NAAS) Q2 2024 Earnings Call Transcript
NaaS Technology Inc. (NASDAQ:NAAS ) Q2 2024 Earnings Conference Call July 24, 2024 8:00 AM ET Company Participants John Wang - Director of Investor Relations Wang Yang - Chief Executive Officer Alex Wu - President and Chief Financial Officer Conference Call Participants Ting Song - Goldman Sachs James Zou - UBS Ethan Zhang - Nomura Zoe Feng - Tianfeng Securities Operator Ladies and gentlemen, thank you for standing by, and welcome to the NaaS Second Quarter and First Half 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode.
07/23 06:00 EST - prnewswire.com
NaaS Technology Inc. to Report 2024 Second Quarter and First Half Unaudited Financial Results on July 24, 2024 Eastern Time
BEIJING , July 23, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the second quarter and half year ended June 30, 2024 before the U.S. market opens on Wednesday, July 24, 2024. The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern time on July 24, 2024 (8:00 PM Beijing/Hong Kong time on July 24, 2024).
NaaS Technology Inc. to Report 2024 Second Quarter and First Half Unaudited Financial Results on July 24, 2024 Eastern Time
BEIJING , July 23, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the second quarter and half year ended June 30, 2024 before the U.S. market opens on Wednesday, July 24, 2024. The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern time on July 24, 2024 (8:00 PM Beijing/Hong Kong time on July 24, 2024).
07/16 07:35 EST - accesswire.com
NuRAN Signs a 200-site NAAS Agreement with MTN Benin, Receives US $2.5M and Resumes New Site Builds
200 Sites Renewable 5-year NaaS Agreement Initial Drawdown of US$ 2. MUSD Received Resumption of NuRAN New Site Builds QUEBEC, QC / ACCESSWIRE / July 16, 2024 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to announce an agreement for up to 200 sites with MTN Benin (JSE:MTN) for the deployment of rural 2G, 3G and 4G sites under the Network-as-a-Service ("NaaS") business model in Benin, West Africa.
NuRAN Signs a 200-site NAAS Agreement with MTN Benin, Receives US $2.5M and Resumes New Site Builds
200 Sites Renewable 5-year NaaS Agreement Initial Drawdown of US$ 2. MUSD Received Resumption of NuRAN New Site Builds QUEBEC, QC / ACCESSWIRE / July 16, 2024 / NuRAN Wireless Inc. ("NuRAN" or the "Company") (CSE:NUR)(OTC PINK:NRRWF)(FSE:1RN), a leading supplier of mobile and broadband wireless infrastructure solutions, is pleased to announce an agreement for up to 200 sites with MTN Benin (JSE:MTN) for the deployment of rural 2G, 3G and 4G sites under the Network-as-a-Service ("NaaS") business model in Benin, West Africa.
06/07 08:00 EST - prnewswire.com
NaaS Technology Inc. Announces Updated Effective Date of ADS Ratio Change
BEIJING , June 7, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the Company"), the first U.S. listed EV charging service company in China, today provides an update on the effective date of the change of the ratio of its American Depositary Shares (the "ADSs") to its Class A ordinary shares (the "ADS Ratio"). The ADS Ratio change was previously announced on May 30, 2024 and originally planned to become effective on or about June 10, 2024.
NaaS Technology Inc. Announces Updated Effective Date of ADS Ratio Change
BEIJING , June 7, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the Company"), the first U.S. listed EV charging service company in China, today provides an update on the effective date of the change of the ratio of its American Depositary Shares (the "ADSs") to its Class A ordinary shares (the "ADS Ratio"). The ADS Ratio change was previously announced on May 30, 2024 and originally planned to become effective on or about June 10, 2024.
05/11 13:02 EST - seekingalpha.com
NaaS Technology Inc. (NAAS) Q1 2024 Earnings Call Transcript
NaaS Technology Inc. (NASDAQ:NAAS ) Q1 2024 Earnings Conference Call May 10, 2024 8:00 AM ET Company Participants John Wang - Director, Investor Relations Cathy Wang Yang - Chief Executive Officer Vivian Wu Ye - Chief Strategy Officer Alex Wu - President and CFO Conference Call Participants Zoe Feng - TF Securities Ting Song - Goldman Sachs Ethan Zhang - Nomura Operator Ladies and gentlemen, thank you for standing by. And welcome to the NaaS First Quarter 2024 Earnings Conference Call.
NaaS Technology Inc. (NAAS) Q1 2024 Earnings Call Transcript
NaaS Technology Inc. (NASDAQ:NAAS ) Q1 2024 Earnings Conference Call May 10, 2024 8:00 AM ET Company Participants John Wang - Director, Investor Relations Cathy Wang Yang - Chief Executive Officer Vivian Wu Ye - Chief Strategy Officer Alex Wu - President and CFO Conference Call Participants Zoe Feng - TF Securities Ting Song - Goldman Sachs Ethan Zhang - Nomura Operator Ladies and gentlemen, thank you for standing by. And welcome to the NaaS First Quarter 2024 Earnings Conference Call.
05/09 09:15 EST - prnewswire.com
NaaS Technology Inc. Announces Filing of Annual Report on Form 20-F
BEIJING , May 9, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the Company"), the first U.S. listed EV charging service company in China, announces that its annual report on Form 20-F for the fiscal year ended December 31, 2023 has been filed with the Securities and Exchange Commission. The annual report can be accessed on the Company's investor relations website at https://ir.enaas.com/.
NaaS Technology Inc. Announces Filing of Annual Report on Form 20-F
BEIJING , May 9, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NaaS) ("NaaS" or the Company"), the first U.S. listed EV charging service company in China, announces that its annual report on Form 20-F for the fiscal year ended December 31, 2023 has been filed with the Securities and Exchange Commission. The annual report can be accessed on the Company's investor relations website at https://ir.enaas.com/.
05/06 08:30 EST - prnewswire.com
NaaS Technology Inc. to Report 2024 First Quarter Unaudited Financial Results on May 9, 2024 Eastern Time
BEIJING , May 6, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024 after the U.S. market closes on Thursday, May 9, 2024. The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern time on May 10, 2024 (8:00 PM Beijing/Hong Kong time on May 10, 2024).
NaaS Technology Inc. to Report 2024 First Quarter Unaudited Financial Results on May 9, 2024 Eastern Time
BEIJING , May 6, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the first quarter ended March 31, 2024 after the U.S. market closes on Thursday, May 9, 2024. The Company's management will host an earnings conference call at 8:00 AM U.S. Eastern time on May 10, 2024 (8:00 PM Beijing/Hong Kong time on May 10, 2024).
04/12 07:18 EST - prnewswire.com
NewLink Included Again in Global Unicorn Index by Hurun Research Institute
BEIJING , April 12, 2024 /PRNewswire/ -- On April 9, the Hurun Research Institute released the Global Unicorn Index 2024 in Guangzhou, a ranking of the world's start-ups founded in the 2000s, worth at least a billion dollars and not yet listed on a public exchange. NewLink, with its successful digital practices in energy digitalization, EV charging services, and transport energy transformation, once again made the list, enjoying the title of "Hurun Global Unicorn" for the fifth consecutive year.
NewLink Included Again in Global Unicorn Index by Hurun Research Institute
BEIJING , April 12, 2024 /PRNewswire/ -- On April 9, the Hurun Research Institute released the Global Unicorn Index 2024 in Guangzhou, a ranking of the world's start-ups founded in the 2000s, worth at least a billion dollars and not yet listed on a public exchange. NewLink, with its successful digital practices in energy digitalization, EV charging services, and transport energy transformation, once again made the list, enjoying the title of "Hurun Global Unicorn" for the fifth consecutive year.
04/02 06:36 EST - prnewswire.com
NaaS Technology Partners with CNNE, Connecting 20 Charging Stations and Over 1,000 Chargers
BEIJING , April 2, 2024 /PRNewswire/ -- Recently, NaaS Technology (NASDAQ: NAAS), the first U.S. listed EV charging service company in China, announced its partnership with Beijing Car Network New Energy Co., Ltd. (hereinafter referred to as "CNNE"), a digital charging and battery-swapping service provider.
NaaS Technology Partners with CNNE, Connecting 20 Charging Stations and Over 1,000 Chargers
BEIJING , April 2, 2024 /PRNewswire/ -- Recently, NaaS Technology (NASDAQ: NAAS), the first U.S. listed EV charging service company in China, announced its partnership with Beijing Car Network New Energy Co., Ltd. (hereinafter referred to as "CNNE"), a digital charging and battery-swapping service provider.
03/29 00:44 EST - seekingalpha.com
NaaS Technology, Inc. (NAAS) Q4 2023 Earnings Call Transcript
NaaS Technology, Inc. (NAAS) Q4 2023 Earnings Call Transcript
NaaS Technology, Inc. (NAAS) Q4 2023 Earnings Call Transcript
NaaS Technology, Inc. (NAAS) Q4 2023 Earnings Call Transcript
03/28 17:26 EST - prnewswire.com
Stellar Q4 & Full Year 2023: NaaS Records 245% YoY Revenue Growth and 14-Fold Gross Profit Surge, Underpinning Upgraded Analytic Capabilities in Scale-up Connectivity
BEIJING , March 28, 2024 /PRNewswire/ -- NaaS Technology(NASDAQ:NAAS), the first U.S. listed EV charging service company in China, announced remarkable financial growth and operational highlights in its newly-released unaudited financial results for the fourth quarter and full year ended December 31, 2023. These results demonstrated the company's "exponential growth and expanding prowess in energy management and storage solutions" as stated by CEO Wang Yang.
Stellar Q4 & Full Year 2023: NaaS Records 245% YoY Revenue Growth and 14-Fold Gross Profit Surge, Underpinning Upgraded Analytic Capabilities in Scale-up Connectivity
BEIJING , March 28, 2024 /PRNewswire/ -- NaaS Technology(NASDAQ:NAAS), the first U.S. listed EV charging service company in China, announced remarkable financial growth and operational highlights in its newly-released unaudited financial results for the fourth quarter and full year ended December 31, 2023. These results demonstrated the company's "exponential growth and expanding prowess in energy management and storage solutions" as stated by CEO Wang Yang.
03/28 16:15 EST - globenewswire.com
NaaS Technology Inc. Reports Unaudited 2023 Fourth Quarter and Full Year Financial Results
BEIJING, March 28, 2024 (GLOBE NEWSWIRE) -- NaaS Technology Inc. (“NaaS” or the “Company”) (Nasdaq: NAAS), the first U.S. listed EV charging service company in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
NaaS Technology Inc. Reports Unaudited 2023 Fourth Quarter and Full Year Financial Results
BEIJING, March 28, 2024 (GLOBE NEWSWIRE) -- NaaS Technology Inc. (“NaaS” or the “Company”) (Nasdaq: NAAS), the first U.S. listed EV charging service company in China, today announced its unaudited financial results for the fourth quarter and full year ended December 31, 2023.
03/22 08:00 EST - prnewswire.com
NaaS Technology Inc. to Report 2023 Fourth Quarter and Full Year Unaudited Financial Results on March 28, 2024 Eastern Time
BEIJING , March 22, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2023 after the U.S. market closes on Thursday, March 28, 2024. The Company's management will host an earnings conference call at 8:00 PM U.S. Eastern time on March 28, 2024 (8:00 AM Beijing/Hong Kong time on March 29, 2024).
NaaS Technology Inc. to Report 2023 Fourth Quarter and Full Year Unaudited Financial Results on March 28, 2024 Eastern Time
BEIJING , March 22, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it will report its unaudited financial results for the fourth quarter and full year ended December 31, 2023 after the U.S. market closes on Thursday, March 28, 2024. The Company's management will host an earnings conference call at 8:00 PM U.S. Eastern time on March 28, 2024 (8:00 AM Beijing/Hong Kong time on March 29, 2024).
03/22 04:49 EST - prnewswire.com
NaaS Collaborates with CSG Hainan EV, Offering Charging Services in China's 1st EV Penetration Market Hainan
BEIJING , March 22, 2024 /PRNewswire/ -- Recently, NaaS Technology(NASDAQ: NAAS), the first US-listed EV charging service company in China, announced cooperation with China Southern Power Grid (Hainan) EV Service Co., Ltd. (later referred to as CSG Hainan EV).
NaaS Collaborates with CSG Hainan EV, Offering Charging Services in China's 1st EV Penetration Market Hainan
BEIJING , March 22, 2024 /PRNewswire/ -- Recently, NaaS Technology(NASDAQ: NAAS), the first US-listed EV charging service company in China, announced cooperation with China Southern Power Grid (Hainan) EV Service Co., Ltd. (later referred to as CSG Hainan EV).
03/15 16:30 EST - prnewswire.com
NaaS Technology Inc. Announces Closing of US$6 Million Registered Direct Offering
BEIJING , March 15, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced the closing of its registered direct offering of 4,761,905 American Depositary Shares ("ADS") together with warrants to purchase up to 4,761,905 ADSs at a combined purchase price of US$1.26 per ADS and accompanying warrant (together the "Securities") for total gross proceeds of approximately US$6 million, before deducting commissions and other estimated offering expenses. The warrants have an exercise price of US$1.49, will be exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
NaaS Technology Inc. Announces Closing of US$6 Million Registered Direct Offering
BEIJING , March 15, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced the closing of its registered direct offering of 4,761,905 American Depositary Shares ("ADS") together with warrants to purchase up to 4,761,905 ADSs at a combined purchase price of US$1.26 per ADS and accompanying warrant (together the "Securities") for total gross proceeds of approximately US$6 million, before deducting commissions and other estimated offering expenses. The warrants have an exercise price of US$1.49, will be exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
03/13 08:35 EST - prnewswire.com
NaaS Technology Inc. Announces US$6 Million Registered Direct Offering
BEIJING , March 13, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has entered into a definitive agreement with a single, U.S. institutional investor for the purchase and sale of 4,761,905 American Depositary Shares ("ADS") together with warrants to purchase up to 4,761,905 ADSs at a combined purchase price of US$1.26 per ADS and accompanying warrant (together the "Securities"), pursuant to a registered direct offering for total gross proceeds of approximately US$6 million , before deducting commissions and other estimated offering expenses. The warrants will have an exercise price of US$1.49 , will be exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.
NaaS Technology Inc. Announces US$6 Million Registered Direct Offering
BEIJING , March 13, 2024 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S. listed EV charging service company in China, today announced that it has entered into a definitive agreement with a single, U.S. institutional investor for the purchase and sale of 4,761,905 American Depositary Shares ("ADS") together with warrants to purchase up to 4,761,905 ADSs at a combined purchase price of US$1.26 per ADS and accompanying warrant (together the "Securities"), pursuant to a registered direct offering for total gross proceeds of approximately US$6 million , before deducting commissions and other estimated offering expenses. The warrants will have an exercise price of US$1.49 , will be exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date.