Azenta enters $500M accelerated share repurchase; initial delivery of ~6.1M shares

Azenta, Inc.

Azenta entered $500M accelerated share repurchase with JPMorgan; $500M payment on Nov 28, 2022.
Initial delivery of ~6.1 million shares on Nov 28; final settlement by June 30, 2023 based on daily VWAP.
Company intends additional $500M in repurchases over next year; $1B remains under authorization.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Azenta, Inc. entered into ASR Agreement with JPMorgan Chase Bank, National Association valued at $500.0 million (effective 2022-11-23).

Action: entry
Agreement: equity purchase
Counterparty: JPMorgan Chase Bank, National Association
Value: $500.0 million
Effective: 2022-11-23

Exact text from the filing

On November 23, 2022, as part of Azenta, Inc.’s (the “Company”) recently authorized stock repurchase program, the Company entered into an accelerated share repurchase agreement (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (the “Dealer”) to repurchase an aggregate of up to $500.0 million of the Company’s common stock, par value $0.01 per share (the “Common Stock”).

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Azenta, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-22-018174

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