Civitas Solutions (CIVI) Repurchases $300M of Shares

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Go back to Civitas Solutions (CIVI) Repurchases $300M of Shares

Civitas Resources, Inc. Repurchases $300 Million of its Common Stock

January 24, 2023 7:36 AM EST

DENVER--(BUSINESS WIRE)-- Civitas Resources, Inc. (NYSE: CIVI) (Civitas or the Company), today reported that it has agreed to repurchase approximately 4.9 million shares of its common stock, par value $0.01 per share (the Common Stock) at a price per share of $61.00, resulting in aggregate consideration of approximately $300 million (the Repurchase) from its largest shareholder, Canada Pension Plan Investment Board (CPP Investments).

Civitas CEO Chris Doyle said, Todays action provides an efficient mechanism to repurchase our shares at a compelling valuation and is consistent with our commitment to return significant cash to shareholders. Our capital structure is... More