Dentsply Sirona (Nasdaq: XRAY) said today that it has entered into an accelerated share repurchase agreement with Bank of America, National Association to repurchase $150 million of its common stock.
The agreement will be completed under Dentsply Sirona’s present share repurchase authorization.
The accelerated share repurchase agreement has Dentsply Sirona initially receiving delivery of roughly 2.4 million shares.
The final number of shares repurchased will be based on the average daily volume-weighted average stock prices of the company’s common stock during the valuation period of the agreement, less a discount and subject to adjustments.
The final settlement of the accelerated share repurchase agreement is expected to be completed before the end of Q2 2022, subject to acceleration.
Dentsply Sirona (Charlotte, North Carolina) is a major manufacturer of professional dental products and technologies.