PROG Holdings completes $425M tender offer, buying 8.67M shares at $49/share, ~13.2% of outstanding

PROG Holdings, Inc.

Purchased 8,673,469 shares at $49.00 per share for aggregate cost of ~$425 million.
Shares acquired represent ~13.2% of outstanding common stock as of Dec 1, 2021.
Tender offer is first step of previously announced $1 billion share repurchase program.
Preliminary pro-ration factor for tendered shares is 80.6%.
CEO reaffirms capital allocation framework prioritizing growth, M&A, and shareholder returns.

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