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

RTTNews | Před 737 dny
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
India Inflation Weakens More Than Forecast To Lowest Level In 5 Months

India Inflation Weakens More Than Forecast To Lowest Level In 5 Months

India's consumer price inflation slowed more than expected to a five-month low in January reinforcing expectations that the Reserve Bank of India will reduce interest rates further. The consumer price index registered an increase of 4.31 percent on a yearly basis in January, weaker than the 5.22 percent rise logged in December, official data revealed on Wednesday.
RTTNews | Před 6 h 46 min
Bay Street Likely To Open On Weak Note

Bay Street Likely To Open On Weak Note

Lower crude oil and bullion prices point to a negative start for the Canadian market Wednesday morning. U.S. consumer price inflation data is likely to make a significant impact on price movements.
RTTNews | Před 7 h 19 min
FTSE 100 Flat In Lackluster Trade; Barratt Redrow Rises On Strong Earnings

FTSE 100 Flat In Lackluster Trade; Barratt Redrow Rises On Strong Earnings

U.K. stocks are moving in a tight band along the flat line Wednesday morning as investors largely stay cautious ahead of U.S. consumer price inflation data due later in the day. Fears of a global trade war following fresh tariffs by the Trump administration weigh on sentiment.
RTTNews | Před 8 h 17 min
CAC 40 Advances In Cautious Trade

CAC 40 Advances In Cautious Trade

French stocks are up Wednesday morning, extending gains to a third session and hovering around 8-month highs, as investors continue to react to a slew of corporate earnings updates, and look ahead to U.S. consumer price inflation data.
RTTNews | Před 8 h 44 min
DAX Modestly Higher As Investors Await U.S. Inflation Data

DAX Modestly Higher As Investors Await U.S. Inflation Data

German stocks are up in positive territory Wednesday morning, with investors indulging in some selective buying ahead of U.S. consumer price inflation data, due later in the day. Optimism about another interest rate cut by the Federal Reserve is aiding sentiment.
RTTNews | Před 9 h 39 min