Aspen Technology (AZPN) Announces $300M Share Repurchase Plan

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Aspen Technology Announces New $300 Million Share Repurchase Program

June 14, 2021 5:00 PM EDT

BEDFORD, Mass.--(BUSINESS WIRE)-- Aspen Technology, Inc. (NASDAQ: AZPN) (AspenTech), a global leader in asset optimization software, announced today that its Board of Directors has authorized a new share repurchase program under which AspenTech may repurchase up to $300 million of its outstanding shares of common stock in Fiscal Year 2022.

The new share repurchase program includes an accelerated share repurchase (ASR) agreement with JPMorgan Chase Bank, National Association (JPMorgan), to repurchase up to $150 million of AspenTechs common stock. The ASR agreement is anticipated to become effective on July 1, 2021, subject to AspenTechs early termination... More