- Simulations Plus ( NASDAQ: SLP ) has entered into an accelerated share repurchase agreement with Morgan Stanley & Co to repurchase an aggregate of $20M of shares.
- The ASR agreement is part of the $50M share repurchase program authorized by the Board of Directors on December 29, 2022.
- After completion of the repurchases under the ASR Agreement, $30M will remain available for additional repurchases under the authorized repurchase program.
- The company is funding the ASR with its available cash balances.
- Under the terms of the ASR Agreement, the company will make an initial payment of $20M to Morgan Stanley and will receive an initial share delivery of ~409K shares.
For further details see:
Simulations Plus executes $20M accelerated buyback