Align Technology Announces $200 Million Accelerated Stock Repurchase Program
Under the terms of the ASR, Align will receive an initial delivery of approximately 689,000 shares. The final number of shares to be repurchased will be based on Align's volume-weighted average stock price during the term of the ASR transaction, less an agreed upon discount. The ASR transaction is expected to be completed approximately three months from July 30, 2019 and will be funded with Align’s cash on hand. As of
In addition to the ASR, Align announced that
About Align Technology, Inc.
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This news release contains forward-looking statements including statements regarding the expected completion date of the ASR transaction, the number of shares of common stock that will be initially delivered to Align under the ASR transaction, Align's expectation that it will finance the ASR transaction with cash on hand and Mr. Hogan’s intention to purchase shares of common stock. Forward-looking statements contained in this news release relating to expectations about future events or results are based upon information available to Align as of the date hereof. Readers are cautioned that these forward-looking statements are only predictions and are subject to risks, uncertainties and assumptions that are difficult to predict. As a result, actual results may differ materially and adversely from those expressed in any forward-looking statement.
These and other risks are detailed from time to time in Align's periodic reports filed with the
|Investor Relations Contact||Press Contact|
|Madelyn Homick||Shannon Mangum Henderson|
|Align Technology, Inc.||Ethos Communication, Inc.|
|(408) 470-1180||(678) 261-7803|
Source: Align Technology, Inc.