Wednesday 9th of February 2022 04:28:46 AM
Teradata launches $250M in accelerated share repurchase agreement
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- Teradata (NYSE:TDC) entered into an accelerated share repurchase (ASR) agreement to repurchase $250M of its stock.
- The program is part of its earlier announced $1B open market share repurchase authorization, wherein ~$913M will remain available after giving effect to the ASR.
- The company plans to fund the ASR from cash on hand.
- Under the agreement, the company will make a payment of $250M to JPM and will receive an initial share delivery of ~3.9M shares from JPM, representing ~80% of the expected share repurchases under the ASR.
- YTD, the stock has gained 19.8%.