HF Sinclair repurchases 8.2M shares from REH Company for $410.6M

HF Sinclair Corp

Repurchased 8,200,000 shares at $50.07/share for aggregate $410,574,000, funded with cash on hand.
Selling stockholder REH Company held ~18.1% of outstanding common stock prior to the transaction.
This is the ninth privately negotiated buyback from REH; total program usage reaches ~$995M of $1B authorization.
Transaction expected to close on or around August 2, 2023; Audit Committee approved as an Interested Transaction.
Shares will be held as treasury stock; the company may discontinue the share repurchase program at any time.

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 $410,574,000 (effective 2023-07-28).

Action: entry
Agreement: equity purchase
Counterparty: REH Company (formerly known as The Sinclair Companies)
Value: $410,574,000
Effective: 2023-07-28

Exact text from the filing

On July 28, 2023, 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 8,200,000 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 $50.07 per share resulting in an aggregate purchase price of $410,574,000.

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HF Sinclair Corp filing history →

Source: SEC EDGAR

accession 0001915657-23-000051

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