OPKO Health, Inc. announces an Equity Buyback for $50 million worth of its shares.
January 04, 2024 at 11:04 am
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OPKO Health, Inc. (NasdaqGS:OPK) announces a share repurchase program. Under the program, the company will repurchase up to $50 million worth of its shares from the purchasers of the 144A Notes. The purchase price per share of the common stock repurchased in such transactions will equal the closing sale price of the company?s common stock on January 4, 2024, which was $0.91 per share.
The company will use net proceeds from the offering of the 144A Notes to repurchase the shares.
OPKO Health, Inc. is a multinational biopharmaceutical and diagnostics company. The Company's diagnostics segment consists of the clinical laboratory operations of BioReference Health, LLC (BioReference), its point-of-care operations. Its pharmaceutical segment consists of the pharmaceutical operations in Chile, Mexico, Ireland, Israel, Spain, Ecuador, France, the United States, and its pharmaceutical research and development operations. Through BioReference, it operates specialized laboratory divisions, such as GenPath (Urology), GenPath (Oncology), and GenPath (Women's Health). It has two commercial stage pharmaceutical products and several pharmaceutical compounds and technologies in various stages of research and development for a range of indications and conditions, including Rayaldee, Rayaldee, Oxyntomodulin, Biologics, NGENLA Somatrogon, and Factor VIIa-CTP. It develops and manufactures specialty active pharmaceutical ingredients (APIs) through FineTech Pharmaceutical, Ltd.