HF Sinclair to repurchase $100M in stock from REH Company at $60.60/share

HF Sinclair Corp

Repurchase of 1,650,165 shares from REH Company for ~$100M at $60.60/share; funded from cash on hand.
Seventh private repurchase from REH Company; follows $1B buyback program authorized Sept 2022.
After this deal, company repurchased $257M under program; REH held 23.65% pre-transaction.
Closing expected on or around Nov 15, 2022; shares held as treasury stock.

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

HF Sinclair Corp entered into Stock Purchase Agreement with REH Company (formerly known as The Sinclair Companies) valued at $99,999,999 (effective 2022-11-10).

Action: entry
Agreement: equity purchase
Counterparty: REH Company (formerly known as The Sinclair Companies)
Value: $99,999,999
Effective: 2022-11-10

Exact text from the filing

On November 10, 2022, HF Sinclair Corporation (the “Company”) entered into a Stock Purchase Agreement (the “Stock Purchase Agreement”) with REH Company (formerly known as The Sinclair Companies) (the “Selling Stockholder” or “REH Company”), pursuant to which the Company agreed to repurchase from the Selling Stockholder 1,650,165 shares of the Company’s outstanding common stock, par value $0.01 per share (the “Common Stock”) in a privately negotiated transaction. The price per share to be paid by the Company under the Stock Purchase Agreement is $60.60 per share resulting in an aggregate purchase price of $99,999,999.

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HF Sinclair Corp filing history →

Source: SEC EDGAR

accession 0001193125-22-283503

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