Industry News

Align Technology has entered a new accelerated stock repurchase (ASR) agreement with Citibank to repurchase $250 million of Align’s common stock under Align’s $1 billion stock repurchase program announced in May.

Under the ASR terms, Align will receive about 580,000 shares. The final number of shares to be repurchased will be based on Align’s volume-weighted average stock price during the ASR term, less an agreed-upon discount. The ASR transaction is expected to be completed by late April and will be funded with Align’s cash on hand.

As of Dec. 31, Align had approximately 77.3 million shares outstanding and $1.0 billion in cash, cash equivalents and short-term and long-term marketable securities.

For more information, visit investor.aligntech.com.