Collegium Pharmaceutical Enters ASR Agreement To Repurchase $35 Mln Of Common Stock

(RTTNews) - Collegium Pharmaceutical, Inc. (COLL) has entered into an Accelerated Share Repurchase agreement with Jefferies to repurchase $35 million of the company's common stock. Collegium will execute the ASR as part of the $150 million share repurchase program authorized by its Board in January 2024. Upon completion of this ASR, Collegium will have $115 million remaining under the program.

Collegium will pay $35 million to Jefferies and will receive an initial delivery of 888,889 shares, representing approximately 80% of the total shares the company expects to repurchase under the ASR agreement. The final settlement of the ASR is anticipated to be completed in the third quarter of 2024.

For More Such Health News, visit rttnews.com.