- Brink’s Company (NYSE:BCO) has entered into an accelerated share repurchase agreement (ASR) with J.P. Morgan Chase Bank, N.A., to repurchase $50 million of its common stock.
- The company will execute the ASR under a $250 million share repurchase program authorized on February 6, 2020.
- Upon completion of this ASR, Brink’s will have $150 million remaining under the authorization.
- Brink’s will receive approximately 524,315 shares, representing ~80% of the total shares it expects to repurchase under the ASR agreement. It expects to receive the balance of 20% of the remaining shares under the agreement by no later than November 24, 2021.
- As of June 30, 2021, Brink’s had ~50.5 million fully diluted shares outstanding.
- Price Action: BCO shares are trading higher by 3.15% at $78.69 on the last check Thursday.
Boqii Barks With Latest Earnings Report, But Investors Beg for Profits
Key Takeaways:
Boqii’s revenue dropped slightly in the three months to June, though business for its self-operated mall rose by 20%
Company could face delisting if it can’t bring its market value above $50 million – more than double the current level – by early 2024
By Doug Young
