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

RTTNews | vor 829 Tagen
Stocktwits
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.

Tags: ALGN
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Singapore Stock Market May Extend Thursday's Gains

Singapore Stock Market May Extend Thursday's Gains

The Singapore stock market bounced higher again on Thursday, one day after ending the two-day winning streak in which it had gathered more than 30 points or 0.8 percent. The Straits Times Index now sits just above the 3,890-point plateau and it may add to its winnings on Friday.
RTTNews | vor 22 Minuten
Japan GDP Slips 0.2% On Quarter In Q1

Japan GDP Slips 0.2% On Quarter In Q1

The Japanese economy contracted a seasonally adjusted 0.2 percent on quarter in the first quarter of 2025, the Cabinet Office said on Friday - missing expectations for a decline of 0.1 percent following the 0.6 percent gain in the three months prior.
RTTNews | vor 25 Minuten
Malaysia Shares May Bounce Higher Again On Friday

Malaysia Shares May Bounce Higher Again On Friday

The Malaysia stock market on Thursday snapped the three-day winning streak in which it had risen more than 40 points or 2.7 percent. The Kuala Lumpur Composite Index now sits just above the 1,570-point plateau although it may see renewed support on Friday.
RTTNews | vor 52 Minuten
Japan Shares Tipped To End Losing Streak

Japan Shares Tipped To End Losing Streak

The Japanese stock market has moved lower in back-to-back sessions, dropping almost 450 points or 1.3 percent along the way. The Nikkei 225 now sits just above the 37,750-point plateau although it may find traction on Friday.
RTTNews | vor 1Std 7 Minuten
South Korea Bourse May Reverse Thursday's Losses

South Korea Bourse May Reverse Thursday's Losses

The South Korea stock market on Thursday ended the three-day winning streak in which it had advanced more than 60 points or 2.4 percent. The KOSPI now sits just above the 2,620-point plateau although it's expected to bounce higher again on Friday.
RTTNews | vor 1Std 22 Minuten
Japan GDP Data Due On Friday

Japan GDP Data Due On Friday

Japan will on Friday release preliminary Q1 numbers for gross domestic product, highlighting a modest day for Asia-Pacific economic activity. GDP is expected to slip 0.1 percent on quarter and 0.2 percent on year after adding 0.6 percent on quarter and 2.2 percent on year in the three month prior.
RTTNews | vor 2Std 22 Minuten
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