MOS - Mosaic stocks up 2% on $400M accelerated share repurchase program

The Mosaic Company (NYSE:MOS) is up 2.4% after hours after the firm has entered into an accelerated share repurchase agreement with Goldman Sachs & Co. (NYSE:GS) to repurchase $400M of Mosaic's common stock. Under the pact, Mosaic will make a payment of $400M to Goldman Sachs and will receive an initial delivery of ~7.1M shares of Mosaic's common stock on Feb.28, representing 80% of the estimated total number of shares expected to be delivered upon completion of the ASR. The final number of shares to be repurchased will be based on the volume-weighted average price during the term of the ASR. The final settlement of the ASR is expected to be completed in the second quarter of 2022. YTD, the stock rose 15.4%; current share repurchase forms 2.5% of its total current market cap.

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Mosaic stocks up 2% on $400M accelerated share repurchase program