Indivior Pharmaceuticals, Inc. (INDV), on Monday, announced that announced a $175 million accelerated share repurchase agreement with Barclays PLC (BARC.L,BCS) under its existing $400 million buyback program.
The final settlement is expected by the end of June.
The company said it will make an upfront payment of $175 million and expects to receive an initial delivery of approximately 3.72 million shares.
The final number of shares repurchased will be based on the volume-weighted average price during the term of the agreement.
The remaining $100 million under the share repurchase authorization may be used for additional buybacks.
The company said the agreement reflects confidence in its long-term strategy and does not impact its previously issued financial guidance.
In the pre-market trading, Indivior Pharmaceuticals is 3.27% higher at $38.89 on the Nasdaq.
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