Concurrent Repurchase definition
Examples of Concurrent Repurchase in a sentence
In addition to the Concurrent Repurchase, the Company may also repurchase additional ADSs and/or ordinary shares on the open market after the pricing of the Notes and from time to time.
The Concurrent Repurchase is expected to facilitate the initial ▇▇▇▇▇▇ by investors who desire to hedge their investments in the Notes, as the Company intends to repurchase the entire expected initial delta of the transaction, after taking into account purchases made by Option Counterparties in connection with establishing their initial ▇▇▇▇▇▇ of the capped call transactions.
Except for the consummation of the Concurrent Repurchase (as defined in the Pricing Disclosure Package) on the terms described in the Pricing Disclosure Package, neither the Company nor its subsidiaries or affiliates will take, directly or indirectly, any action designed to or that could reasonably be expected to cause or result in any stabilization or manipulation of the price of the Common Stock.
The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program will be funded by the net proceeds of the Notes Offering and other cash on hand, and, in the aggregate, are generally expected to offset potential dilution to the holders of the Company’s ADSs (or ordinary shares) upon conversion of the Notes.
The Concurrent Repurchase and future repurchases pursuant to the Company’s share repurchase program will be funded by the net proceeds of the Notes Offering and other cash on hand.
The Company expects the purchase price in the Concurrent Repurchase to be the last reported sale price per ADS on the New York Stock Exchange on May 23, 2024.