Venlo, the Netherlands, Jan. 18, 2024 (GLOBE NEWSWIRE) — QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) today announced details for completion of the synthetic share repurchase plan to return up to approximately $300 million that combines a direct capital repayment to QIAGEN shareholders with a reverse stock split.
The repayment from existing cash reserves is expected to lead to an approximately 3% reduction in the number of issued shares (based on current share price).
The terms of the synthetic share repurchase are as follows:
-
Following the implementation of the consolidation, QIAGEN will repay capital to shareholders of record in the amount of $1.28 per pre-split share. (As the par-value of QIAGEN shares is denominated in euros, the amount of the capital decrease and repayment in the respective notarial deeds will also be denominated in euros. The payment, however, will be made in U.S. dollars.)
The last day of trading of…
