Adtalem announces $150M ASR, $300M buyback authorization; plans $770M debt paydown from divestiture

Covista Inc.

$150M accelerated share repurchase (ASR) program funded with existing cash.
Board authorizes $300M open market share repurchases over next 36 months.
Approximately $770M of $820M net proceeds from divestiture to pay down debt.
Company expects annualized interest expense savings of ~$40M from debt paydown.
Financial services divestiture expected to close by March 31, 2022.

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