Planet Fitness Enters $280M Accelerated Share Repurchase Agreement With Citibank
Portfolio Pulse from Benzinga Newsdesk
Planet Fitness has entered a $280 million Accelerated Share Repurchase (ASR) agreement with Citibank. This is part of its previously announced $500 million share repurchase authorization from November 8, 2022.
June 13, 2024 | 11:06 am
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Planet Fitness has entered a $280 million Accelerated Share Repurchase (ASR) agreement with Citibank, which is part of its $500 million share repurchase authorization announced in November 2022.
The ASR agreement indicates that Planet Fitness is confident in its financial health and future prospects, which is generally viewed positively by investors. This could lead to a short-term increase in the stock price as the market reacts to the buyback news.
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