ATGE - Adtalem Global Education announces $150M in accelerated share repurchase agreement

Adtalem Global Education (NYSE:ATGE) entered an accelerated share repurchase agreement with Morgan Stanley to repurchase $150M of its common stock. Under agreement terms, Adtalem will receive an initial share delivery of ~4.7M shares, with the final settlement scheduled to occur no later than Q2 of FY23. Besides the $150M ASR program, the company board also authorized open market share repurchases of up to $300M of its stock over the upcoming 3 years. The company is funding the ASR with existing cash resources. Both the programs were earlier announced on Mar.1, 2022.

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Adtalem Global Education announces $150M in accelerated share repurchase agreement