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.
For further details see:
American Equity enters into accelerated buyback agreement with JPM for $200M