Press release
KLA Corporation Announces $3.0 Billion Accelerated Share Repurchase Agreements
MILPITAS, Calif., June 24, 2022 /PRNewswire/ -- KLA Corporation ("KLA") (NASDAQ: KLAC) today announced that it has entered into accelerated share repurchase
About this update from Kla Corporation
[{"type":"text","content":"MILPITAS, Calif., June 24, 2022 /PRNewswire/ -- KLA Corporation (\"KLA\") (NASDAQ: KLAC) today announced that it has entered into accelerated share repurchase agreements (\"ASRs\") with Goldman Sachs & Co. LLC and Citibank N.A. (collectively, the \"Financial Institutions\") to repurchase $3.0 billion of KLA's common stock. The ASRs were entered into pursuant to KLA's previously announced share repurchase programs, under which approximately $3.233 billion of share repurchase authorization will remain.\nhttps://mma.prnewswire.com/media/806571/KLA_Corporation_Logo.jpg \nUnder the ASRs, KLA will make payments in an aggregate amount of $3.0 billion to the Financial Institutions and will receive initial deliveries of approximately 6,549,000 shares of KLA's common stock in the aggregate from the Financial Institutions, with any remaining shares expected to be delivered upon the final settlement under the ASRs, which is scheduled to occur in KLA's second fiscal quarter ending December 31, 2022, subject to earlier termination under certain limited circumstances, as set forth in the ASRs. The final number of shares to be repurchased will be based on the volume-weighted average price of KLA's common stock during the terms of the ASRs less a discount and subject to adjustments pursuant to the terms and conditions of the ASRs.\nAbout KLA: \nKLA develops industry-leading equipment and services that enable innovation throughout the electronics industry. We provide advanced process control and process-enabling solutions for manufacturing wafers and reticles, integrated circuits, packaging, printed circuit boards and flat panel displays. In close collaboration with leading customers across the globe, our expert teams of physicists, engineers, data scientists and problem-solvers design solutions that move the world forward. Investors and others should note that KLA announces material financial information including SEC filings, press releases, public earnings calls and conference webcasts using an investor relations website (ir.kla.com). Additional information may be found at: www.kla.com.\nNote Regarding Forward-Looking Statements:\nStatements in this press release other than historical facts, such as statements regarding the expected settlement of the ASRs and the number of shares that ultimately will be repurchased under the ASRs, are forward-...