Simulations Plus launches $20M accelerated share repurchase under $50M buyback plan

Simulations Plus, Inc.

Enters ASR with Morgan Stanley; initial payment of $20M, receives ~409k shares.
Final repurchase based on VWAP during term, expected to settle by Q3 fiscal 2023.
Part of $50M buyback program authorized Dec 29, 2022; $30M remains available.
Funding from available cash; aligns with updated capital allocation strategy including potential M&A and internal investment.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Simulations Plus, Inc. entered into accelerated share repurchase agreement with Morgan Stanley & Co. LLC valued at $20 million (effective 2023-01-11).

Action: entry
Agreement: equity purchase
Counterparty: Morgan Stanley & Co. LLC
Value: $20 million
Effective: 2023-01-11

Exact text from the filing

On January 11, 2023, Simulations Plus, Inc., a California corporation (the “Company”), entered into an accelerated share repurchase agreement (the “ASR Agreement”) with Morgan Stanley & Co. LLC (“Morgan Stanley”) to repurchase an aggregate of $20 million of the Company’s outstanding common shares.

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280 material agreements filed in the last 30 days. Browse all material agreements →

Simulations Plus, Inc. filing history →

Source: SEC EDGAR

accession 0001023459-23-000017

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