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Benzinga
Benzinga
Business
Akanksha Bakshi

ZipRecruiter Enters $50M Accelerated Share Repurchase

Zip ZipRecruiter NYSE
  • ZipRecruiter Inc (NYSE:ZIP) has entered into an accelerated share repurchase agreement with Goldman Sachs & Co. LLC to repurchase $50 million of its common stock.
  • ZipRecruiter will make an initial payment of $50 million and receive an initial delivery of approximately 1.8 million shares by March 23, 2022.
  • The final settlement of the ASR is expected to occur by the second quarter of 2022.
  • As of March 15, 2022, ~$87.7 million remained available for future repurchases under ZipRecruiter’s previously announced $100 million share repurchase program, and ~$37.7 million will remain available after completion of the ASR.
  • Price Action: ZIP shares are trading higher by 1.72% at $22.44 on the last check Monday.
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