Uber: accelerated share buyback agreement
(CercleFinance.com) - Uber Technologies announces that it has entered into an accelerated share repurchase (ASR) agreement with Bank of America for $1.
5bn, as part of its previously announced $7bn share repurchase authorization.
The VTC and meal delivery services platform will thus pay BofA $1.5 billion and expects to receive an initial delivery of 18.578,727 Uber shares, representing around 80% of those it plans to repurchase under the ASR agreement.
The total number of shares to be repurchased by Uber will be based on the volume-weighted average price on specified dates, less a discount, and subject to adjustments. Transactions under this framework are expected to be finalized in Q1 2025.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
5bn, as part of its previously announced $7bn share repurchase authorization.
The VTC and meal delivery services platform will thus pay BofA $1.5 billion and expects to receive an initial delivery of 18.578,727 Uber shares, representing around 80% of those it plans to repurchase under the ASR agreement.
The total number of shares to be repurchased by Uber will be based on the volume-weighted average price on specified dates, less a discount, and subject to adjustments. Transactions under this framework are expected to be finalized in Q1 2025.
Copyright (c) 2025 CercleFinance.com. All rights reserved.