Guidewire To Repurchase $200 Mln Of Shares

Guidewire (GWRE) said that it has entered into an accelerated share repurchase agreement with Morgan Stanley & Co. LLC to repurchase an aggregate of $200 million of outstanding shares of common stock, as part of its $400 million share repurchase authorization.

As per the terms of the accelerated share repurchase, Guidewire will receive an aggregate initial share delivery of 2,581,478 shares, with the remainder, if any, expected to be delivered upon the final settlement under the ASR, which is scheduled to occur during the third quarter of its fiscal year 2023, upon completion of the repurchases.

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