Actionable news
0
All posts from Actionable news
Actionable news in PRXL: PAREXEL International Corporation,

On September

Pursuant to the Agreement, on September 17, 2015, the Company will pay $200 million to Wells and will receive from Wells approximately 2.3 million shares of Common Stock, representing 80 percent of the shares to be repurchased by the Company under the Agreement. The shares will be repurchased at a price of $70.35 per share, which was the closing price of the Common Stock on September 16, 2015. These shares will be cancelled and restored to the status of authorized and unissued shares. The final number of shares to be delivered to the Company by Wells under the Agreement at program maturity, net of the initial delivery, will be adjusted based on an agreed upon discount to the average of the daily volume weighted average price of the Common Stock during the term of the Agreement. If the number of shares to be delivered to the Company at maturity is less than the initial delivery of shares by Wells, the...


More