BuybackMay 13, 2026, 09:07 AM
ACV Auctions Initiates $50M Accelerated Share Repurchase
AI Summary
ACV Auctions Inc. has entered into an Accelerated Share Repurchase (ASR) agreement with Citibank, N.A., as part of its previously announced share repurchase program. The company will make an aggregate payment of $50 million on May 13, 2026, and anticipates an initial delivery of approximately 70% of the shares underlying the agreement. The final number of shares to be repurchased will be determined by the volume-weighted average price of the common stock on specified dates, less a discount, with completion expected by the fourth quarter of fiscal 2026.
Key Highlights
- ACV Auctions entered an Accelerated Share Repurchase (ASR) agreement.
- Initial payment of $50 million to Citibank on May 13, 2026.
- Expects initial delivery of approximately 70% of shares under ASR.
- Total shares repurchased based on VWAP less a discount.
- Transactions expected to complete by Q4 fiscal 2026.