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United States. Securities and Exchange Commission

AMN Healthcare Services, Inc. Announces Stock Repurchase Program

Strategic Insights

— 1 min read

AMN Healthcare Services, Inc., a healthcare staffing company, has filed a Form 8-K report with the U.S. Securities and Exchange Commission disclosing an Accelerated Share Repurchase Agreement (ASR) with JPMorgan Chase Bank, National Association to repurchase $200 million worth of common stock. The agreement, part of the company's existing stock repurchase program, will result in the delivery of approximately 1.76 million shares of common stock on May 10, 2023. The final settlement of the ASR is expected to be completed in the fourth quarter of 2023.

Key Takeaways:

  • AMN Healthcare Services, Inc. has entered into an Accelerated Share Repurchase Agreement with JPMorgan Chase Bank, National Association to repurchase $200 million worth of common stock.
  • The ASR is part of the company's existing stock repurchase program.
  • The agreement will result in the delivery of approximately 1.76 million shares of common stock on May 10, 2023.
  • The final settlement of the ASR is expected to be completed in the fourth quarter of 2023.
  • The ASR is subject to customary adjustments and may require a cash payment or delivery of additional shares to JPMorgan Chase Bank, National Association.
  • AMN Healthcare Services, Inc. has a stock repurchase program in place, which aims to return value to shareholders through the repurchase of common stock.
  • The company's existing stock repurchase program has been active since at least December 31, 2022, as mentioned in the most recent Annual Report on Form 10-K.

Statistics:

  • $200 million: the amount of common stock to be repurchased under the ASR.
  • 1.76 million: the approximate number of shares of common stock to be delivered on May 10, 2023.
  • $0.01 per share: the par value of the common stock being repurchased.
  • May 10, 2023: the expected date of the initial delivery of shares of common stock under the ASR.
  • Fourth quarter of 2023: the expected completion date of the final settlement of the ASR.

Sources:

  • Form 8-K (Current Report) filed by AMN Healthcare Services, Inc. with the U.S. Securities and Exchange Commission on May 8, 2023.
  • Quarterly Reports on Form 10-Q and Annual Report on Form 10-K for the year ended December 31, 2022, filed by AMN Healthcare Services, Inc. with the U.S. Securities and Exchange Commission.

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