other material
confidence high
sentiment neutral
materiality 0.55
A10 Networks repurchases 3.5M shares from Summit Partners for $44.6M
A10 Networks, Inc.
- Repurchased 3,500,000 shares from Summit Partners entities at $12.75/share, aggregate $44,625,000.
- Closing price on prior trading day was $13.05, representing a ~2.3% discount.
- Shares acquired from Summit Partners Growth Equity Fund VIII-A, VIII-B, Summit Investors I, and Summit Investors I (UK).
- Repurchase reduces outstanding shares; no changes to dividend or capital allocation announced.
- Funds were available from existing cash; transaction closed on September 8, 2022.