Align enters $75 million accelerated stock repurchase program

Medical device company Align Technology has entered an accelerated stock repurchase agreement with Goldman Sachs & Co. to repurchase $75 million of Align's common stock.

The agreement allows Align to initially receive approximately 86,200 shares, according to an Aug. 2 press release. The transaction will be funded by Align's cash on hand and is expected to be completed by October.

The agreement is part of Align's $1 billion stock repurchase program announced in May.

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