Brief: Bloomin' Brands Entered Into Accelerated Share Repurchase Agreement To Repurchase About $220 Mln Of Co's Common Stock

Bloomin' Brands

01/03/2024 12:03

March 1 (Reuters) - Bloomin' Brands Inc  BLMN.O :
    * BLOOMIN' BRANDS INC - ENTERED INTO AN ACCELERATED SHARE
REPURCHASE AGREEMENT TO REPURCHASE APPROXIMATELY $220 MILLION OF
COMPANY'S COMMON STOCK
    * BLOOMIN' BRANDS INC - FINAL SETTLEMENT OF TRANSACTIONS
UNDER ASR
AGREEMENT IS EXPECTED TO OCCUR IN Q2 OF 2024.
    * BLOOMIN' BRANDS-WILL FUND PAYMENT UNDER ASR AGREEMENT
PRIMARILY
WITH BORROWINGS UNDER SECOND AMENDED & RESTATED CREDIT
AGREEMENT, DATED APRIL 16, 2021
    * BLOOMIN' BRANDS INC - ON FEB 29 ENTERED INTO EXCHANGE
AGREEMENTS
WITH CERTAIN HOLDERS OF ITS 5.00% CONVERTIBLE SENIOR NOTES DUE
2025
    * BLOOMIN' BRANDS-UNDER DEAL CO TO DELIVER & PAY ABOUT 7.5
MILLION
SHARES OF STOCK, $3.27 MILLION IN CASH, IN EXCHANGE FOR $83.562
MILLION OF OUTSTANDING 2025 NOTES
    * BLOOMIN' BRANDS - DOES NOT EXPECT TRANSACTIONS TO
MATERIALLY
IMPACT ITS 2024 ADJUSTED DILUTED EPS OUTLOOK

Source text for Eikon:  ID:n0001546417-24-000062 
Further company coverage:  BLMN.O 

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