Align Technology to repurchase additional $100M in stock

Align Technology has plans to buy back $100 million of its common stock through open market repurchases.

The number of shares the company will repurchase will be based on market conditions, stock price, trading volume and other factors, according to a Nov. 6 news release from Align.  

Align will use its available cash to make the transactions.

In addition, Joe Hogan, president and CEO of Align, plans to personally repurchase $1 million of common stock on top of the $1 million he purchased in October. 

Align plans to complete the repurchasing of stock by the middle of December, the release said.

The company also entered into a $250 million repurchase agreement in October. Both are part of Align's plan to repurchase $1 billion of its stock. 

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