Adtalem Initiates $150M Accelerated Share Repurchase Agreement

Adtalem Global Education Inc ATGE has entered into an accelerated share repurchase (ASR) agreement with Morgan Stanley & Co LLC to repurchase $150 million of the company's common stock.
The company will fund the ASR with existing cash resources.
As announced recently, Adtalem will repurchase up to $300 million of the company's common stock over the next 36 months.
The company held $276.6 million in cash and equivalents as of December 31, 2021.
Price Action: ATGE shares are trading higher by 4.20% at $26.55 on the last check Tuesday.