Verisk Analytics launches $2.5B in accelerated share repurchase transaction
Verisk AnalyticsÂ (NASDAQ:VRSK) entered into accelerated share repurchase (ASR) agreementsÂ with each of Citibank, N.A. and Goldman SachsÂ to repurchase $2.5B of stock.
The ASR Counterparties are expected to make an aggregate initial delivery of ~10.7M shares to the company at the inception of the ASR Agreements.
The final settlement of the transactions under the ASR Agreements is expected to occur during FQ4 ending Dec.31, 2023.
Post ASR agreements, $941.3M will remain available for share repurchases under the company's authorized share repurchase program.