United Therapeutics Corporation announced it will enter into two Accelerated Share Repurchase (ASR) agreements with Citibank, N.A. to repurchase an aggregate $1 billion of UTHR common stock. This program is part of the $1 billion repurchase authorization previously announced on July 30, 2025.
Under the terms of the ASR agreements, United Therapeutics will make an aggregate upfront payment of $1 billion to Citi on August 4, 2025. The company expects to receive an initial delivery of shares representing approximately 75% of the total shares anticipated under the uncollared ASR and 50% under the collared ASR, based on the closing stock price on August 1, 2025.
The final settlement for the uncollared ASR agreement is expected in the fourth quarter of 2025, with the collared ASR agreement's final settlement anticipated in the first quarter of 2026. This aggressive repurchase strategy signals management's strong conviction in the company's intrinsic value and future growth prospects.
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