TSX runs higher on rate cut expectations
Roivant Sciences Ltd. (NASDAQ:ROIV) announced Tuesday that its board of directors has authorized a new common share repurchase program of up to $500 million. The program allows the company to buy back its common shares using available cash and cash equivalents. There is no set expiration date for the repurchase program.
This new authorization follows the company’s previous $1.5 billion share repurchase program, which was announced in April 2024 and had approximately $205 million of remaining capacity as of March 31, 2025. The earlier program has now been fully utilized.
Roivant stated that the timing and amount of any repurchases under the new program will depend on factors such as the market price of its common shares, overall business conditions, macroeconomic factors, and the availability of other investment opportunities. The company may conduct purchases through open market transactions, tender offers, privately negotiated transactions, or trading plans established under Rule 10b5-1 of the Securities Exchange Act of 1934.
The company noted that the repurchase program may be suspended or discontinued at any time and that there is no assurance regarding the number of shares that will be repurchased or the prices at which any repurchases will occur.
This information is based on a press release statement included in Roivant Sciences Ltd.’s filing with the U.S. Securities and Exchange Commission.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.