Home  »  Expert Review   »  Why Did The BeautyHealth (SKIN) Stock Increase 11%...

Why Did The BeautyHealth (SKIN) Stock Increase 11%?

In the last check Wednesday, The BeautyHealth Company (NASDAQ: SKIN) has risen 11.61% to $12.93 following its share repurchase. SKIN closed the previous session at $11.58, moving between $11.74 and $12.98.

How will SKIN repurchase shares?

A share repurchase program of up to $200 million has been authorized by the BeautyHealth (SKIN) Board of Directors. BeautyHealth entered into an accelerated share repurchase agreement (“ASR”) with JPMorgan Chase Bank, NA to purchase $100 million of its common stock in connection with the share repurchase authorization. SKIN will be authorized to repurchase $100 million of common stock following the completion of the ASR.

Do You Own These 7 Inflation-Survival Stocks?

Inflation is still near 40-year highs and rising prices are putting a big dent in our wallets. Unless you find out how to protect your portfolio and outpace inflation, you'll keep being at the mercy of economic factors out of your control. Especially since the price of electricity, food, and shelter are creeping up higher than ever. In this special report, I detail 7 stocks to help you survive and thrive in today's market. They're backed by solid companies, positioned to profit during tough economic times, and offer out-sized dividends to help you outpace inflation.

Click here to get your free copy of the report

Sponsored

Management at BeautyHealth believes that the stock is trading at a price that makes a repurchase prudent at this time, in agreement with the Board. Its buyback demonstrates its commitment to BeautyHealth’s long-term growth prospects. With disciplined capital allocation, SKIN intends to create value for shareholders, while remaining in a strong cash position for mergers and acquisitions.

It is expected that SKIN will fund the repurchase with cash on hand. In addition to paying $100 million, BeautyHealth will receive approximately 7.7 million shares of the company’s common stock on September 29, 2022. In order to determine the number of shares to be repurchased, a discount will be deducted from the daily volume-weighted average price of the Company’s common stock during the term of the ASR, and adjustments will be made according to its terms. During the first quarter of 2023, the ASR is expected to be finalized.

In what way will SKIN be affected?

A variety of methods may be used by BeautyHealth (SKIN) to repurchase shares under the share repurchase authorization from time to time, including open market purchases, privately negotiated transactions, and other accelerated share repurchase programs. Stock prices, economic and market conditions, and other factors will influence the timing, price, and size of purchases. SKIN may suspend or discontinue the repurchase authorization at any time at its discretion and is not obligated to acquire a particular amount of its common stock.

Leave a Comment

Your email address will not be published. Required fields are marked *

More Posts

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Receive Best Stock To Trade Before The Opening Bell

 

 

100% Free. Stop Anytime. No Spam

384869

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

The 5 Best Inflation Stocks for 2022

100% free. stop anytime no spam

Get our free report on the stocks that we recommend for investors who want to protect their portfolios from inflation.