Align Technology Announces $50 Million Accelerated Stock Repurchase Program and a 10b5-1 Stock Repurchase Plan
Under the terms of the ASR, Align has agreed to repurchase
The Company also announced that it has entered into a stock repurchase plan under which the Company will repurchase up to $50 million of its common stock. This stock repurchase plan is in addition to, and will become effective upon, the completion of the Company's $50 million ASR. This stock repurchase plan together with the ASR completes the Company's three-year $300 million stock repurchase program announced April 23, 2014. The Company has announced a new
The Company's stock repurchase plan will operate in accordance with guidelines specified under Rule 10b5-1 of the Securities Exchange Act of 1934. Accordingly, transactions, if any, will be effected in accordance with the terms of the share repurchase plan, including specified price, volume, and timing conditions.
Forward Looking Statement
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 and Align's expectation that it will finance the ASR transaction with cash on hand. 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. Factors that might cause such a difference include, but are not limited to, changing stock
market conditions and the other risks described in its Annual Report on Form 10-K for the fiscal year ended
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