Accelerated share repurchase

Innovator ETFs Announces Closure of Suite of Stacker ETFs

Retrieved on: 
Thursday, August 31, 2023

Innovator launched the suite of Stacker ETFs seeking to provide investors a way of pursuing enhanced upside potential without taking on additional downside risk.

Key Points: 
  • Innovator launched the suite of Stacker ETFs seeking to provide investors a way of pursuing enhanced upside potential without taking on additional downside risk.
  • Innovator believes its suite of Accelerated ETFs offers a way to pursue this objective with greater precision and efficiency.
  • Innovator also intends to close its January series of Stacker ETFs in early 2024.
  • The combined assets under management in the six Stacker ETFs was $39 million as of August 30, 2023, representing 0.3% of Innovator’s total AUM.

Nasdaq, Inc. Announces $475 Million Accelerated Stock Repurchase Program

Retrieved on: 
Wednesday, July 21, 2021

NEW YORK, July 21, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (the Company) (Nasdaq: NDAQ) today announced that it has entered into an accelerated stock repurchase agreement (ASR) with Goldman Sachs & Co. LLC (Goldman Sachs) to repurchase $475 million of the Companys common stock.

Key Points: 
  • NEW YORK, July 21, 2021 (GLOBE NEWSWIRE) -- Nasdaq, Inc. (the Company) (Nasdaq: NDAQ) today announced that it has entered into an accelerated stock repurchase agreement (ASR) with Goldman Sachs & Co. LLC (Goldman Sachs) to repurchase $475 million of the Companys common stock.
  • The ASR was entered into pursuant to the Companys share repurchase program, under which $1.46 billion remained available as of July 21, 2021.
  • Our decision to pursue an accelerated share repurchase agreement reflects our strong commitment to repurchase shares to offset the financial impact of the divestiture, while maintaining our consistent capital plan.
  • Its diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence.

Constellation Brands Announces Accelerated Stock Buyback

Retrieved on: 
Wednesday, June 30, 2021

VICTOR, N.Y., June 30, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC to repurchase $500.0 million of its ClassA common stock (Common Stock).

Key Points: 
  • VICTOR, N.Y., June 30, 2021 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ and STZ.B), a leading beverage alcohol company, announced today that it has entered into an accelerated share repurchase (ASR) agreement with Goldman Sachs & Co. LLC to repurchase $500.0 million of its ClassA common stock (Common Stock).
  • Under the ASR agreement, Constellation will receive approximately 1.7 million shares on July 2, 2021, representing approximately 80% of the expected share repurchases under the ASR agreement, based on the companys June29, 2021 closing stock price of $230.98.
  • This accelerated share repurchase transaction demonstrates our strong commitment to maximizing shareholder value, and aligns with our commitment to return $5 billion to shareholders through fiscal 2023, said Constellation Brands President and Chief Executive Officer Bill Newlands.
  • At Constellation Brands (NYSE: STZ and STZ.B), our mission is to build brands that people love because we believe sharing a toast, unwinding after a day, celebrating milestones, and helping people connect, are Worth Reaching For.

MasterCraft Boat Holdings, Inc. Announces New $50 Million Share Repurchase Program

Retrieved on: 
Monday, June 28, 2021

This credit facility will provide MasterCraft with additional liquidity and financial flexibility to continue to execute on its consumer-centric growth strategy.

Key Points: 
  • This credit facility will provide MasterCraft with additional liquidity and financial flexibility to continue to execute on its consumer-centric growth strategy.
  • Share repurchases under the program may be made through a variety of methods, which may include open market purchases, accelerated share repurchases, tender offers, privately negotiated transactions or otherwise.
  • The program does not obligate MasterCraft to acquire any particular amount of its common stock, and the share repurchase program may be suspended or discontinued at any time at the Companys discretion.
  • For more information about MasterCraft Boat Holdings, and its four brands, visit: investors.mastercraft.com, www.MasterCraft.com, www.NauticStarBoats.com, www.CrestPontoonBoats.com, and www.AviaraBoats.com.

Synopsys Initiates $175 Million Accelerated Share Repurchase Agreement

Retrieved on: 
Thursday, June 24, 2021

MOUNTAIN VIEW, Calif., June 24, 2021 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today announced that it has entered into an accelerated share repurchase agreement (ASR) with Mizuho Markets Americas LLC to repurchase an aggregate of $175 million of Synopsys stock.

Key Points: 
  • MOUNTAIN VIEW, Calif., June 24, 2021 /PRNewswire/ -- Synopsys, Inc. (Nasdaq: SNPS ) today announced that it has entered into an accelerated share repurchase agreement (ASR) with Mizuho Markets Americas LLC to repurchase an aggregate of $175 million of Synopsys stock.
  • The specific number of shares that Synopsys ultimately repurchases under the ASR will be based on the average of Synopsys' daily volume-weighted average share prices during the repurchase period, less a discount.
  • Synopsys, Inc. (Nasdaq: SNPS) is the Silicon to Software partner for innovative companies developing the electronic products and software applications we rely on every day.
  • Synopsys assumes no obligation to update any forward-looking statement contained in this press release.

Rambus Initiates Accelerated Share Repurchase Program

Retrieved on: 
Wednesday, June 16, 2021

"This program demonstrates our confidence in the future growth of the company," said Luc Seraphin, president and chief executive officer at Rambus."

Key Points: 
  • "This program demonstrates our confidence in the future growth of the company," said Luc Seraphin, president and chief executive officer at Rambus."
  • Under the accelerated share repurchase program, Rambus will pre-pay to Deutsche Bank the $100 million purchase price for its common stock and, in turn, Rambus will receive an initial delivery of approximately 4.0 million shares of its common stock from Deutsche Bank within the first week of the program.
  • The accelerated share repurchase program is part of the broader 20 million share repurchase program previously authorized by the Rambus Board of Directors in October 2020.
  • This release contains forward-looking statements under the Private Securities Litigation Reform Act of 1995 relating, among other things, to the terms of Rambus' accelerated share repurchase program, including timing, Rambus' growth potential, and Rambus' guidance for the fiscal quarter ending June 30, 2021.

Aspen Technology Announces New $300 Million Share Repurchase Program

Retrieved on: 
Monday, June 14, 2021

Aspen Technology, Inc. (NASDAQ: AZPN) (AspenTech), a global leader in asset optimization software, announced today that its Board of Directors has authorized a new share repurchase program under which AspenTech may repurchase up to $300 million of its outstanding shares of common stock in Fiscal Year 2022.

Key Points: 
  • Aspen Technology, Inc. (NASDAQ: AZPN) (AspenTech), a global leader in asset optimization software, announced today that its Board of Directors has authorized a new share repurchase program under which AspenTech may repurchase up to $300 million of its outstanding shares of common stock in Fiscal Year 2022.
  • The new share repurchase program includes an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank, National Association (JPMorgan), to repurchase up to $150 million of AspenTechs common stock.
  • Additionally, AspenTech recently resumed its share repurchase activity in the fourth fiscal quarter of 2021, and anticipates repurchasing up to $50 million of stock by June 30, 2021 under its previously authorized Fiscal Year 2021 share repurchase program, subject to market conditions and other considerations.
  • 2021 Aspen Technology, Inc. AspenTech and the Aspen leaf logo are trademarks of Aspen Technology, Inc.
    View source version on businesswire.com: https://www.businesswire.com/news/home/20210614005779/en/

Masco Corporation Announces $350 Million Accelerated Share Repurchase

Retrieved on: 
Thursday, June 10, 2021

Masco Corporation (NYSE: MAS) today announced it has entered into an accelerated share repurchase (ASR) agreement with Royal Bank of Canada to repurchase $350 million of Mascos common stock.

Key Points: 
  • Masco Corporation (NYSE: MAS) today announced it has entered into an accelerated share repurchase (ASR) agreement with Royal Bank of Canada to repurchase $350 million of Mascos common stock.
  • This agreement is part of Mascos existing share repurchase authorization under which $2 billion of authority was announced on February 9, 2021.
  • Headquartered in Livonia, Mich., Masco Corporation is a global leader in the design, manufacture and distribution of branded home improvement and building products.
  • For more information about Masco Corporation, visit www.masco.com .

Howmet Aerospace Announces $200 Million Accelerated Share Repurchase

Retrieved on: 
Tuesday, May 11, 2021

b'Howmet Aerospace Inc. (NYSE:HWM) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co. LLC to repurchase $200 million of Howmet Aerospace\xe2\x80\x99s common stock, pursuant to the share repurchase program previously authorized by Howmet Aerospace\xe2\x80\x99s Board of Directors.\nUnder the ASR agreement, Howmet Aerospace will receive initial delivery of approximately 4.9 million shares on May 11, 2021.

Key Points: 
  • b'Howmet Aerospace Inc. (NYSE:HWM) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co. LLC to repurchase $200 million of Howmet Aerospace\xe2\x80\x99s common stock, pursuant to the share repurchase program previously authorized by Howmet Aerospace\xe2\x80\x99s Board of Directors.\nUnder the ASR agreement, Howmet Aerospace will receive initial delivery of approximately 4.9 million shares on May 11, 2021.
  • The ASR agreement is expected to be completed during the second quarter of 2021.\nAfter giving effect to the share repurchase under the ASR agreement, approximately $77 million remains available under the prior authorization by the Board of Directors for share repurchases.\nHowmet Aerospace Inc., headquartered in Pittsburgh, Pennsylvania, is a leading global provider of advanced engineered solutions for the aerospace and transportation industries.
  • These statements reflect beliefs and assumptions that are based on Howmet Aerospace\xe2\x80\x99s perception of historical trends, current conditions and expected future developments, as well as other factors Howmet Aerospace believes are appropriate in the circumstances.
  • Howmet Aerospace disclaims any intention or obligation to update publicly any forward-looking statements, whether in response to new information, future events, or otherwise, except as required by applicable law.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20210511005631/en/\n'

Sonoco Announces $150 Million Accelerated Share Repurchase

Retrieved on: 
Tuesday, May 11, 2021

b"HARTSVILLE, S.C., May 11, 2021 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest global diversified packaging companies, today announced an agreement to repurchase $150 million of its outstanding common shares in an accelerated share repurchase (\xe2\x80\x9cASR\xe2\x80\x9d) transaction with Wells Fargo Bank, N.A., using available cash on hand.\nUnder the ASR agreement, Sonoco will pay $150 million in exchange for an initial delivery of approximately 1.75 million shares.

Key Points: 
  • b"HARTSVILLE, S.C., May 11, 2021 (GLOBE NEWSWIRE) -- Sonoco (NYSE: SON), one of the largest global diversified packaging companies, today announced an agreement to repurchase $150 million of its outstanding common shares in an accelerated share repurchase (\xe2\x80\x9cASR\xe2\x80\x9d) transaction with Wells Fargo Bank, N.A., using available cash on hand.\nUnder the ASR agreement, Sonoco will pay $150 million in exchange for an initial delivery of approximately 1.75 million shares.
  • The final number of shares to be repurchased under the ASR will be based on the Company\xe2\x80\x99s volume-weighted average share price during the repurchase period, less a discount and subject to adjustments.
  • This authorization restored and replaced the Company\xe2\x80\x99s prior residual repurchase authorizations and allows the Company to repurchase shares through the open market, privately negotiated transactions or other programs.
  • Sonoco is committed to creating sustainable products, services and programs for our customers, employees and communities that support our corporate purpose of Better Packaging.