COLL - Collegium announces $50M accelerated share repurchase program

2023-08-07 08:36:26 ET

• Collegium Pharmaceutical ( NASDAQ: COLL ) on Monday said it had entered into an Accelerated Share Repurchase agreement with Jefferies to repurchase $50M of the company’s common stock.
• Collegium will execute the ASR as part of the $100 million share repurchase program authorized by its Board of Directors in January 2023.
• Under terms of the agreement, Collegium will receive an initial delivery of about 1.7 million shares, based on the $23.49 closing stock price of Collegium’s common stock on August 4, representing about 80% of the total shares the company expects to repurchase under the agreement.
• COLL +0.55% premarket to $23.62
• Source: Press Release

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