United Therapeutics authorizes $1B accelerated share repurchase with Citibank

UNITED THERAPEUTICS Corp

Board authorized up to $1B of common stock repurchase; ASR agreement signed with Citibank.
Initial delivery of ~3,275,199 shares (80% of estimated total) on March 27, 2024.
Final settlement to occur in Q2 ($300M) and Q3 2024 ($700M) based on VWAP.
Company also plans $400M credit facility paydown in 2024; $100M already paid in Q1.
CEO cites balance sheet strength and confidence in near-term prospects for buyback.

item 1.01 item 7.01 item 9.01

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

UNITED THERAPEUTICS Corp entered into ASR Agreement with Citibank, N.A. valued at $1.0 billion (effective 2024-03-25).

Action: entry
Agreement: equity purchase
Counterparty: Citibank, N.A.
Value: $1.0 billion
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, the Company entered into an accelerated share repurchase agreement (the ASR Agreement ) with Citibank, N.A. ( Citi ) to repurchase approximately $1 billion of the Company’s common stock

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UNITED THERAPEUTICS Corp filing history →

Source: SEC EDGAR

accession 0001104659-24-038478

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