Penumbra Board Approves Share Repurchase Authorization; Enters ASR To Repurchase $100 Mln Of Stock

(RTTNews) - Penumbra, Inc. (PEN) announced that its Board approved a share repurchase authorization in the amount of up to $200 million. The repurchase authorization expires on July 31, 2025.

Under the authorization, Penumbra entered into an accelerated share repurchase agreement with JPMorgan Chase Bank, National Association on August 12, 2024 to repurchase $100 million of Penumbra's common stock. Under the ASR, Penumbra will make an initial payment of $100 million to the dealer and will receive an initial delivery of approximately 474,000 shares of Penumbra's common stock.