Bristol-Myers Squibb enters $4B accelerated share repurchase with four banks

BRISTOL MYERS SQUIBB CO

Entered ASR agreements with Bank of America, Citibank, JPMorgan Chase, and Morgan Stanley to repurchase $4.0B of common stock.
On August 10, BMS pays $4B and initially receives shares worth 85% of purchase price based on Aug 9 closing price.
Final number of shares based on VWAP during term; scheduled to terminate in Q4 2023.
BMS may receive additional shares or deliver shares/cash upon final settlement.
Buyback under previously authorized multi-year share repurchase program.

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