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Benzinga

Business

Shivani Kumaresan

Adtalem Initiates $150M Accelerated Share Repurchase Agreement

ATGE Adtalem Global Education Inc NYSE

Adtalem Global Education Inc (NYSE:ATGE) has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co LLC to repurchase $150 million of the company's common stock.
The company will fund the ASR with existing cash resources.
As announced recently, Adtalem will repurchase up to $300 million of the company's common stock over the next 36 months.
The company held $276.6 million in cash and equivalents as of December 31, 2021.
Price Action: ATGE shares are trading higher by 4.20% at $26.55 on the last check Tuesday.

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