UAA - Under Armour launches $300M in accelerated share repurchase agreements

Under Armour (NYSE:UAA) trades 2.2% higher premarket after it announced it has entered accelerated share repurchase (ASR) agreements for repurchasing $300M of its Class C common stock. This is post the last week's announced share repurchase program to repurchase up to $500M wherein ~$200M will remain available on completion of the ASR. Under the ASRs, the company will pre-pay the $300M purchase price to the dealers and will receive an initial delivery of ~16.2M shares of Under Armour's Class C common stock, with any remaining shares expected to be received in May 2022.

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Under Armour launches $300M in accelerated share repurchase agreements