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:
- Every 25 issued QIAGEN shares will be consolidated into 24.25 QIAGEN shares, leading to a reduction of approximately 6.9 million shares from the level of 230.8 million shares at the end of 2023.
- 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…
