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Gogo Climbs 5% On 1.5 Mln Share Repurchase

Shares of inflight internet provider, Gogo Inc. (GOGO) are up more than 5% Friday morning after the company said it has agreed to repurchase 1.5 million shares owned by affiliates of BlackRock Inc. for about $18 million or $12.23 per share, to be paid in cash.

The transaction is expected to close on September 21.

GOGO is at $12.88 currently. It has traded in the range of $11.73-$23.69 in the last 52 weeks.

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