KLA Enters ASR Agreements To Repurchase $3.0 Bln Of Common Stock

(RTTNews) - KLA Corp. (KLAC) has entered into accelerated share repurchase agreements with Goldman Sachs & Co. LLC and Citibank N.A. to repurchase $3.0 billion of the company's common stock. KLA will make payments in an aggregate amount of $3.0 billion to the Financial Institutions and will receive initial deliveries of approximately 6,549,000 shares of the company's common stock in the aggregate from the financial institutions, with any remaining shares expected to be delivered upon the final settlement under the ASRs, which is scheduled to occur in second quarter ending December 31, 2022.

The company noted that the ASRs were entered into pursuant to previously announced share repurchase programs, under which approximately $3.233 billion of share repurchase authorization will remain.