Align Technology To Repurchase $100 Mln Of Common Stock - Quick Facts

(RTTNews) - Align Technology, Inc. (ALGN) said it is planning to repurchase $100 million of common stock through open market repurchases under $1.0 billion stock repurchase program that was approved by Board in January 2023. The open market repurchase is in addition to the $250 repurchase of common stock under an accelerated stock repurchase agreement that was announced on October 27, 2023.

Align also announced that Joe Hogan, president and CEO, plans to personally purchase $1.0 million of common stock. The amount is in addition to the $1.0 million of common stock that Joe Hogan recently purchased.

As of September 30, 2023, Align had approximately 76.6 million shares outstanding and $1.3 billion in cash, cash equivalents and short-term and long-term marketable securities.