Indivior announces $175M accelerated share repurchase program

Indivior (INDV) announced that it has entered into a $175M accelerated share repurchase agreement with Barclays. The ASR will be executed under Indivior’s existing $400M share repurchase program previously authorized by the company’s board of directors. Under the ASR agreement, Indivior will make an upfront payment of $175M to Barclays and expects to receive an initial delivery of 3,717,473 shares promptly following execution. The final number of shares repurchased will be determined based on the volume weighted average price of Indivior’s common stock during the term of the ASR, less a discount. Final settlement is expected to occur no later than the end of June. Indivior does not expect the ASR to impact its previously issued financial guidance. The remaining $100M under the share repurchase authorization may be used for additional repurchases from time to time, subject to market conditions and other factors. Repurchases may be made through open market transactions, privately negotiated transactions, or other methods permitted under applicable law.