Blackbaud announces $200M accelerated share repurchase, plans to buy back 7-10% of shares by end of 2024

BLACKBAUD INC

Intends to repurchase 7-10% of outstanding common stock through end of 2024 under $500M board authorization.
Entered $200M ASR with Bank of America; initial delivery of 2.1M shares on March 5, 2024.
Since Dec 2023, repurchased $77M in common stock ($41M prior to Jan 17 authorization expansion).
Funding from cash, operating cash flow, and borrowings; expects ~$390M outstanding under credit facility after ASR.
CEO states stock is undervalued and confident in operating plan driving free cash flow.

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