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
For further details see:
Collegium announces $50M accelerated share repurchase program