Laureate Education Announces New $100 Million Share Repurchase Program
September 13 2024 - 6:00AM
Laureate Education, Inc. (NASDAQ: LAUR) (the “Company”)
announced that its board of directors has approved a new stock
repurchase program to acquire up to $100 million of the
Company’s common stock. The Company intends to finance the
repurchases with free cash flow, excess cash and liquidity on-hand,
including available capacity under its Revolving Credit Facility.
The Company has completed the $100 million repurchase program that
had previously been announced in February 2024. After giving effect
to this new authorization, the Company will have returned nearly $3
billion of capital to shareholders since the beginning of 2019
through a combination of share repurchases, cash distributions and
cash dividends.
The Company’s proposed repurchases may be made from time to time
in the open market at prevailing market prices, in privately
negotiated transactions, in block trades and/or through other
legally permissible means, depending on market conditions and in
accordance with applicable rules and regulations promulgated under
the Securities Exchange Act of 1934, as amended (the “Exchange
Act”). Repurchases may be effectuated pursuant to a trading plan
adopted in accordance with Rule 10b5-1 under the Exchange Act. The
Company’s board will review the share repurchase program
periodically and may authorize adjustments to its terms and size or
suspend or discontinue the program.
Forward-Looking StatementsThis press release
includes certain statements which contain "forward-looking
statements" within the meaning of the federal securities laws,
which involve risks and uncertainties. You can identify
forward-looking statements because they contain words such as
"believes," "expects," "may," "will," "should," "seeks,"
"approximately," "intends," "plans," "estimates" or "anticipates"
or similar expressions that concern our strategy, plans or
intentions. In particular, statements regarding the impact of the
forward-looking statements are based on the Company's current
expectations and assumptions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that may differ materially from
those contemplated by the forward-looking statements, which are
neither statements of historical fact nor guarantees or assurances
of future performance. Important factors that could cause actual
results to differ materially from our expectations are disclosed in
our Annual Report on Form 10-K filed with the SEC on February 22,
2024, our subsequent Quarterly Reports on Form 10-Q filed and to be
filed with the SEC and other filings made with the SEC.
About Laureate Education, Inc.Laureate
Education, Inc. operates five higher education institutions across
Mexico and Peru, enrolling approximately 450,000 students in
high-quality undergraduate, graduate, and specialized degree
programs through campus-based and online learning. Our universities
have a deep commitment to academic quality and innovation, strive
for market-leading employability outcomes, and work to make higher
education more accessible. At Laureate, we know that when our
students succeed, countries prosper, and societies benefit. Learn
more at laureate.net.
Investor Relations Contact:ir@laureate.net
Media Contact:Adam SmithLaureate Education,
Inc.adam.smith@laureate.netU.S.: +1 (443) 255 0724
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