secwatch.observer — SEC 8-K summary
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Issuer:     BRISTOL MYERS SQUIBB CO (BMY)
CIK:        0000014272
Form:       8-K
Filed at:   2023-08-10T23:59:59+00:00
Accession:  0001140361-23-038900
Event type: other_material
Sentiment:  positive
Materiality: 0.70
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/14272/000114036123038900/0001140361-23-038900-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/14272/000114036123038900/brhc20057302_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-23-038900

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