Kulicke And Soffa Industries Enters ASR Agreement To Repurchase $150 Mln Shares

(RTTNews) - Kulicke and Soffa Industries, Inc. (KLIC) announced Wednesday that it has entered into an accelerated share repurchase (ASR) agreement to repurchase $150 million of the Company's common stock.

The ASR agreement was entered into following the completion of Kulicke & Soffa's current $800 million repurchase authorization.

Kulicke & Soffa anticipates completing the transactions associated with the ASR by the end of its third fiscal quarter of 2022. At that time, the Company anticipates that approximately $340 million will remain under its current repurchase authorization.

The final number of shares to be repurchased under the ASR agreement will be based on the volume-weighted average price of the Company's common stock, less a discount, during the term of the ASR.