Align Technology enters $200M accelerated share repurchase; CEO to buy $2M personally

ALIGN TECHNOLOGY INC

Entered $200M accelerated share repurchase (ASR) with Goldman Sachs; initial delivery ~849,000 shares.
Final share count based on volume-weighted average price during term; settlement by Feb 1, 2023.
Funded with cash on hand; as of June 30, 2022, Align held $877.5M cash and 78.1M shares outstanding.
CEO Joe Hogan intends to personally purchase $2.0 million of Align common stock.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

ALIGN TECHNOLOGY INC entered into Accelerated Share Repurchase Agreement with Goldman Sachs & Co. LLC valued at $200 million (effective 2022-10-28).

Action: entry
Agreement: equity purchase
Counterparty: Goldman Sachs & Co. LLC
Value: $200 million
Effective: 2022-10-28

Exact text from the filing

On October 28, 2022, Align Technology, Inc., a Delaware corporation (the "Company") entered into an accelerated share repurchase agreement (the "ASR Contract") with Goldman Sachs & Co. LLC ("Goldman") to repurchase $200 million of Align's common stock authorized under the Company's $1.0 billion stock repurchase program announced on May 13, 2021.

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ALIGN TECHNOLOGY INC filing history →

Source: SEC EDGAR

accession 0001097149-22-000062

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