Oddity (ODD) announced that it has entered into a transaction with a fund managed by L Catterton to repurchase approximately 2.35M Class A Ordinary Shares of the company for a total cash consideration of approximately $100M, at a purchase price of $42.501 per share. The transaction is independent of the company’s standing share buyback plan-announced on June 7 and authorizing the company to purchase up to $150M of the company’s shares over three years-which will continue as planned subject to its terms, including the availability of distributable funds. After the closing of the transaction, L Catterton will own approximately 4M shares, representing approximately 7% of the company’s ordinary shares outstanding as of September 30, 2024, pro forma for the transaction.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on ODD:
- Oddity price target raised to $42 from $39 at Barclays
- ODDITY Tech Posts Record Results, Raises Outlook
- Oddity reports Q3 EPS 29c, consensus 23c
- Oddity sees Q4 adjusted EPS 11c-13c, consensus 13c
- ODDITY Tech Reports Record Growth and Raises Outlook
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
