nCino announces $100M accelerated share repurchase program

nCino’s (NCNO) board of directors has also authorized an additional $100M share repurchase to be completed under an accelerated share repurchase. To facilitate the ASR, nCino has entered into an agreement with Wells Fargo Bank, effective March 31. The initial delivery of shares will represent approximately 80% of the total value of shares to be repurchased under the ASR, based on the closing price of nCino’s common stock on March 31 and will be delivered against payment by nCino of the ASR’s full purchase price of $100M. The final number of shares to be repurchased is expected to be based on a measure of the volume-weighted average price of nCino’s common stock during the term of the transaction, less a discount and subject to adjustments. Final settlement is expected to occur in the second quarter of nCino’s fiscal year 2027.