Azenta, Inc. (Nasdaq: AZTA) today announced that it has entered into an accelerated share repurchase agreement with JP Morgan Chase Bank, N.A. to repurchase $500 million of the Company’s common stock. The ASR was entered into pursuant to the Company’s previously announced $1.5 billion share repurchase authorization. In addition to the ASR, the Company intends to repurchase at least an additional $500 million in common stock over the next year.
Under the ASR, the Company will make an initial payment of $500 million to the Dealer and will receive an initial delivery of approximately 6.1 million shares of the Company’s common stock on November 28, 2022. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average price of the Company’s common stock during the term of the ASR, less a discount and subject to adjustments pursuant to the terms of the ASR. The final settlement of the ASR is expected to be completed by the end of the Company’s third fiscal quarter ended June 30, 2023.
Azenta, Inc. (Nasdaq: AZTA) is a leading provider of life sciences solutions worldwide, enabling impactful breakthroughs and therapies to market faster. Azenta provides a full suite of reliable cold-chain sample management solutions and genomic services across areas such as drug development, clinical research and advanced cell therapies for the industry’s top pharmaceutical, biotech, academic and healthcare institutions globally.
Azenta is headquartered in Massachusetts, with operations in North America, Europe and Asia. For more information, please visit www.azenta.com.
