Collegium Pharmaceutical, Inc. announced it has entered into an Accelerated Share Repurchase (ASR) agreement with Jefferies LLC to repurchase $25 million of the company’s common stock. This ASR is part of the $150 million share repurchase program that was authorized by its Board of Directors in January 2024. Upon completion of this ASR, $65 million will remain under the existing program.
Under the terms of the agreement, Collegium will pay $25 million to Jefferies LLC and will receive an initial delivery of 692,281 shares. This initial delivery is based on the $28.89 closing stock price of Collegium’s common stock on May 9, 2025. The final number of shares repurchased will be determined by the volume-weighted average prices during the ASR term.
The final settlement of the ASR is expected to be completed no later than the third quarter of 2025. Colleen Tupper, Chief Financial Officer, stated that the ASR reflects a strategic approach to capital allocation, balancing sustained revenue growth with returning capital to shareholders.
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