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AEL - American Equity enters into accelerated buyback agreement with JPM for $200M
American Equity Investment Life Holding Company
2023-03-20 06:38:29 ET
American Equity Investment Life ( NYSE: AEL ) announced that it entered into an accelerated share repurchase agreement with JPMorgan Chase, National Association to repurchase $200M of stock under its current board authorization.
It will initially receive ~4.831M shares, representing ~80% of the number of shares initially underlying the ASR based on the closing stock price on Mar. 17, 2023.
The company expects final settlement in Q3 of 2023.