Penumbra, Inc. (NYSE: PEN), the world's leading thrombectomy company, today announced that its Board of Directors approved on August 5, 2024 a share repurchase authorization in the amount of up to $200 million, allowing Penumbra to repurchase its common stock from time to time at such prices as it deems appropriate through open market purchases, block transactions, privately negotiated transactions, including accelerated share repurchase transactions, or otherwise. The repurchase authorization expires on July 31, 2025.
Under this authorization, Penumbra entered into an accelerated share repurchase agreement ("ASR") with JPMorgan Chase Bank, National Association (the "Dealer") on August 12, 2024 to repurchase $100 million of Penumbra's common stock.
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