Align Technology Inks $250 Mln Accelerated Stock Repurchase Agreement With Citibank

RTTNews | hace 829
Align Technology Inks $250 Mln Accelerated Stock Repurchase Agreement With Citibank

(RTTNews) - Medical device company Align Technology, Inc. (ALGN) announced Monday that it has entered into a new accelerated stock repurchase agreement or ASR, with Citibank, N.A., to repurchase $250 million of Align's common stock under Align's $1.0 billion stock repurchase program announced on May 13, 2021.

Under the terms of the ASR, Align will receive an initial delivery of approximately 580 thousand shares. The final number of shares to be repurchased will be based on Align's volume-weighted average stock price during the term of the ASR, less an agreed upon discount.

The ASR transaction is expected to be completed by approximately April 26, 2023 and will be funded with Align's cash on hand.

Pursuant to the ASR agreement, Citi will use commercially reasonable efforts to conduct a portion of its hedging activity by effecting purchases through one or more designated brokers, including CastleOak Securities LP, Drexel Hamilton, LLC, and Siebert Williams Shank & Co., LLC.

In addition to the ASR, Align announced that Joe Hogan, president and CEO, and John Morici, CFO and executive vice president, global finance intend to personally purchase $1.0 million and $0.2 million, respectively, of Align's common stock.

read more
European Economic News Preview: Eurozone Foreign Trade Data Due

European Economic News Preview: Eurozone Foreign Trade Data Due

Foreign trade from the euro area and unemployment from France are due on Friday, headlining a light day for the European economic news. At 1.30 am ET, France's statistical office INSEE publishes unemployment data for the first quarter. The jobless rate is forecast to rise to 7.4 percent from 7.3 percent a quarter ago.
RTTNews | hace 15 minutos
Sensex, Nifty Modestly Lower On Weak Asian Cues

Sensex, Nifty Modestly Lower On Weak Asian Cues

Indian shares were a tad lower on Friday, tracking weak cues from other Asian markets. The benchmark S&P BSE Sensex was down 195 points, or 0.2 percent, at 82,333 in early trade while the broader NSE Nifty index dropped 47 points, or 0.2 percent, to 25,015.
RTTNews | hace 1h 6min
Australian Market Trims Early Strong Gains In Mid-market

Australian Market Trims Early Strong Gains In Mid-market

The Australian stock market is trimming its early strong gains in mid-market moves on Friday, adding to the gains in the previous seven sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,300 level, with gains across most sectors led by mining, financial and technology stocks.
RTTNews | hace 1h 54min
Asian Markets Trade Mostly Lower

Asian Markets Trade Mostly Lower

Asian stock markets are trading mostly lower on Friday, following the mixed cues from Wall Street overnight, as traders digested the latest settlements on the trade tariff front and remained caution as they awaited more clarity on the developments in trade negotiations with other trade partners. Asian markets ended mostly higher on Thursday.
RTTNews | hace 2h 9min
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares are seen opening higher on Friday as India's foreign minister S Jaishankar said that trade talks with the U.S. are still going on and "nothing is decided till everything is".
RTTNews | hace 2h 59min
Thai Shares May Reclaim 1,200-Point Level

Thai Shares May Reclaim 1,200-Point Level

The Thai stock market has alternated between positive and negative finishes through the last seven trading days since the end of the five-day winning streak in which it had advanced more than 50 points or 4.3 percent. The Stock Exchange of Thailand now sits just beneath the 1,195-point plateau and it's expected to open to the upside on Friday.
RTTNews | hace 3h 33min
Japanese Market Notably Lower

Japanese Market Notably Lower

Extending the losses in the previous two sessions, the Japanese market is notably lower on Friday, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling to near the 37,500 level, with weakness across most sectors led by index heavyweights, automakers and technology stocks.
RTTNews | hace 3h 52min
Win Streak May Continue For Indonesia Bourse

Win Streak May Continue For Indonesia Bourse

The Indonesia stock market has finished higher in three straight sessions, improving more than 210 points or 3.1 percent in that span. The Jakarta Composite Index now rests just above the 7,040-point plateau and it's expected to extend its gains again on Friday.
RTTNews | hace 4h 3min