Repurchase agreement

Civitas Resources, Inc. Repurchases $300 Million of its Common Stock

Retrieved on: 
Tuesday, January 24, 2023
Oil, Gas, Energy, Investment, CPP Investment Board, Repurchase agreement, Common, Hand, NYSE, Civitas, Common stock, CIVI, Security (finance)

Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today reported that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share (the “Common Stock”) at a price per share of $61.00, resulting in aggregate consideration of approximately $300 million (the “Repurchase”) from its largest shareholder, Canada Pension Plan Investment Board (“CPP Investments”).

Key Points: 
  • Civitas Resources, Inc. (NYSE: CIVI) (“Civitas” or the “Company”), today reported that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share (the “Common Stock”) at a price per share of $61.00, resulting in aggregate consideration of approximately $300 million (the “Repurchase”) from its largest shareholder, Canada Pension Plan Investment Board (“CPP Investments”).
  • As we continue to generate future free cash flow, we will consider all options to opportunistically return cash to our shareholders.”
    As of December 31, 2022 and prior to the Repurchase, Civitas had approximately 85.1 million shares of Common Stock outstanding.
  • Following the Repurchase, Civitas will have approximately 80.2 million shares of Common Stock outstanding.
  • Following the Repurchase, CPP Investments will remain the Company’s largest shareholder and will own approximately 21% of the Common Stock.

iQIYI, Inc. Announces Repurchase Right Notification for 2.00% Convertible Senior Notes due 2025

Retrieved on: 
Thursday, February 16, 2023
Mechanics, NOTES, Repurchase agreement, CUSIP, Attention, Debt-to-GDP ratio, AND, Note, Depository Trust Company, FICC, Citibank, PARTIES, Trustee, Exercise, Security (finance), Car rental, Washington Boulevard, Indenture

The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount.

Key Points: 
  • The Repurchase Right entitles each holder of the Notes to require the Company to repurchase all of such holder's Notes, or any portion thereof that is an integral multiple of US$1,000 principal amount.
  • The 2023 Repurchase Date is an interest payment date under the terms of the Indenture and the Notes.
  • If all outstanding Notes are surrendered for repurchase through exercise of the Repurchase Right, the aggregate cash purchase price will be US$1,200,000,000.
  • In order to exercise the Repurchase Right, a holder must follow the transmittal procedures set forth in the Company's Repurchase Right Notice to holders (the "Repurchase Right Notice"), which is available through the Depository Trust Company and Citibank, N.A.

GasLog Partners LP Reports Financial Results for the Three-Month Period and the Year Ended December 31, 2022 and Declares Cash Distribution

Retrieved on: 
Thursday, January 26, 2023
Methane, Wood Mackenzie, Asset-backed security, Documentation, International, Repurchase agreement, ATM, Weather, London Interbank Bid Rate, LIBOR, International Financial Reporting Standards, Record, Calendar, Partnership taxation in the United States, EBITDA, Sale, Loss, Partnership, Congestion, Video game, Natural gas, Airline, Cryptocurrency, Bank, Life insurance, Financial adviser, LNG, Adjustment, Steam

Revenues were $105.0 million for the quarter ended December 31, 2022, compared to $88.2 million for the same period in 2021.

Key Points: 
  • Revenues were $105.0 million for the quarter ended December 31, 2022, compared to $88.2 million for the same period in 2021.
  • General and administrative expenses were $4.2 million for the quarter ended December 31, 2022, compared to $3.5 million for the same period in 2021.
  • Adjusted EBITDA (1) was $81.1 million for the quarter ended December 31, 2022, compared to $64.2 million for the same period in 2021.
  • Financial costs were $15.7 million for the quarter ended December 31, 2022, compared to $9.4 million for the same period in 2021.

BlackRock Closed-End Fund Share Repurchase Program Update

Retrieved on: 
Monday, January 9, 2023
Other Professional Services, Professional Services, Finance, Calendar, Fund, BlackRock, Repurchase agreement, Share repurchase, Car rental, Oil

BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended December 31, 2022.

Key Points: 
  • BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended December 31, 2022.
  • The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions.
  • The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.
  • Below is a summary of share repurchase activity over this past quarter and since the inception of each Fund’s Repurchase Program:
    Summary of share repurchase activity during the most recent calendar quarter ended December 31, 2022:

Amerant Bancorp Inc. Announces New Share Repurchase Program

Retrieved on: 
Monday, December 19, 2022
CORAL, Rule, Share repurchase, Repurchase agreement, Security (finance)

CORAL GABLES, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today announced that its Board of Directors authorized a new share repurchase program (the “New Repurchase Program”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $25 million of its shares of Class A common stock.

Key Points: 
  • CORAL GABLES, Fla., Dec. 19, 2022 (GLOBE NEWSWIRE) -- Amerant Bancorp Inc. (NASDAQ: AMTB) (the “Company” or “Amerant”) today announced that its Board of Directors authorized a new share repurchase program (the “New Repurchase Program”), pursuant to which the Company may purchase, from time to time, up to an aggregate amount of $25 million of its shares of Class A common stock.
  • The New Repurchase Program will be effective from January 1, 2023 until December 31, 2023.
  • The Company will not, however, repurchase shares prior to the release of 4Q 2022 earnings in January 2023.
  • The New Repurchase Program does not obligate the Company to repurchase any particular amount of Class A common stock and may be suspended or discontinued at any time without notice.

New Mountain Finance Corporation Extends Stock Repurchase Program

Retrieved on: 
Wednesday, December 28, 2022
Banking, Professional Services, Finance, New Mountain Capital, Investment Company Act of 1940, Rule, NMFC, Uncertainty, Repurchase agreement, Car rental, Ethics

New Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC” or “the Company”) today announced that on December 22, 2022 its board of directors authorized an extension of a previously established stock repurchase program (the “Repurchase Program”).

Key Points: 
  • New Mountain Finance Corporation (NASDAQ: NMFC) (“NMFC” or “the Company”) today announced that on December 22, 2022 its board of directors authorized an extension of a previously established stock repurchase program (the “Repurchase Program”).
  • Pursuant to the Repurchase Program, the Company can repurchase up to $50 million worth of its common stock at the discretion of NMFC’s management team.
  • The Repurchase Program was set to expire on December 31, 2022, but the Company's board of directors elected to extend the Repurchase Program through December 31, 2023.
  • To date, approximately $2.9 million worth of repurchases have been made by the Company under the Repurchase Program.

American Pacific Mining Reports Assay Results, Including 12.13 g/t Gold over 1.52 Metres, from the Tuscarora Project

Retrieved on: 
Tuesday, November 22, 2022
Photon, Paragon, Carlin, Office, Anomaly, Carlin Unconformity, Burrard Street, Laboratory, Quality assurance, Vinini Formation, Partnership, Sparks, Nevada, Madison, Quality control, Notice of Intent to Lien, National instrument, QA, Gold, Repurchase agreement, RC, ALS, Rio Tinto (corporation), Name, Prize, Jerritt Elliott, Rodeo Creek, Gooseberry, Silver, Acquisition, VMS, Iron ore, Mining, Oil, Agricultural Development in the American Pacific

The best interval was 10.67 m at 0.78 g/t Au, including 3.05 m at 1.27 g/t Au in TS22-16.

Key Points: 
  • The best interval was 10.67 m at 0.78 g/t Au, including 3.05 m at 1.27 g/t Au in TS22-16.
  • About American Pacific Mining Corp.
    American Pacific Mining Corp. is a base and precious metals explorer and developer focused on opportunities in the Western United States.
  • Also in American Pacific's asset portfolio are the Gooseberry Silver-Gold project and the Tuscarora Gold-Silver project: two high-grade, precious metals projects located in key mining districts of Nevada, USA.
  • On Behalf of the Board of American Pacific Mining Corp.
    Corporate Office: Suite 910 510 Burrard Street Vancouver, BC, V6C 3A8 Canada

Open Lending Board of Directors Authorizes $75 Million Share Repurchase Program

Retrieved on: 
Thursday, November 17, 2022
COVID-19, Risk, Annual report, Consumer, Security (finance), Repurchase agreement, Tax, Research, Share repurchase, Failure, Probability, Bank

AUSTIN, Texas, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (Open Lending), a leading provider of lending enablement and risk analytics solutions for financial institutions, today announced that its board of directors has authorized a repurchase program of up to $75 million of the Companys outstanding common stock, through November 17, 2023 (the Repurchase Program).

Key Points: 
  • AUSTIN, Texas, Nov. 17, 2022 (GLOBE NEWSWIRE) -- Open Lending Corporation (NASDAQ: LPRO) (Open Lending), a leading provider of lending enablement and risk analytics solutions for financial institutions, today announced that its board of directors has authorized a repurchase program of up to $75 million of the Companys outstanding common stock, through November 17, 2023 (the Repurchase Program).
  • The Boards decision to approve this share repurchase program reflects the confidence in our business model, free cash flow profile, strength of our balance sheet, and the attractive levels to acquire our common stock, said Keith Jezek, CEO of Open Lending.
  • We believe that this share repurchase program is an efficient use of capital and demonstrates our commitment to deploying capital to drive long-term value for our shareholders, employees and business partners.
  • Open Lending (NASDAQ: LPRO) provides loan analytics, risk-based pricing, risk modeling and default insurance to auto lenders throughout the United States.

Bank OZK Announces $300 Million Stock Repurchase Program

Retrieved on: 
Monday, November 14, 2022
Federal Deposit Insurance Corporation, ROCK, Bank OZK, Bank, Repurchase agreement

LITTLE ROCK, Ark., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bank OZK (the Bank) (Nasdaq: OZK) today announced that its Board of Directors approved a new stock repurchase program pursuant to which the Bank may repurchase up to $300 million of its outstanding common stock (the Repurchase Program).

Key Points: 
  • LITTLE ROCK, Ark., Nov. 14, 2022 (GLOBE NEWSWIRE) -- Bank OZK (the Bank) (Nasdaq: OZK) today announced that its Board of Directors approved a new stock repurchase program pursuant to which the Bank may repurchase up to $300 million of its outstanding common stock (the Repurchase Program).
  • The Banks previous stock repurchase program expired on November 4, 2022.
  • The Repurchase Program, which has received all required regulatory approval, will expire on the earlier to occur of: (i) the Bank repurchasing shares of its common stock at an aggregate cost of $300 million, or (ii) November 9, 2023.
  • Bank OZK (Nasdaq: OZK) is a regional bank providing innovative financial solutions delivered by expert bankers with a relentless pursuit of excellence.

QNB Group abides all sustainability standards, certifications and ESG criteria across internal and external operational levels

Retrieved on: 
Monday, November 7, 2022
United Nations, Awareness, Sustainable Development Goals, ESG, MSME, QNB, Culture, GHC, Environment, Principle, Development, Woman, COP, UNEP, United Nations Environment Programme Finance Initiative, Conference, UN, Climate change, SME, Reconstruction, Quality of life, Recycling, UNEP FI, CEO, PRB, Vision 2030, COP27, Rationalization, Natural Resources, European Central Bank, USD, EBRD, Biophysical environment, Union, United Nations Conference on Sustainable Development, Carbon, CSR, Eye, International financial institutions, QNB Group, Repurchase agreement, Solution, Renewable energy, Bank

CAIRO, Nov. 7, 2022 /PRNewswire/ -- QNB Group, the largest financial institution in the Middle East and Africa, announced its participation in the 27th session of the United Nations Conference on Climate Change (COP27) to be held in Egypt,  in Sharm El-Sheikh on 7- 18th of November.

Key Points: 
  • The bank also focuses on supporting SMEs in overcoming environmental risks and aligning with sustainability standards.
  • Further, the group integrates the Environmental, social, and governance (ESG) standards in all its finance activities and supply chain operations.
  • Hence, the bank propels sustainability in all sectors through its wide array of financial programs, services, and banking solutions as well.
  • QNB Group also strived to support the transition to a more neutral and sustainable economy, as it launched the first green repurchase agreement (Repo).