Planet Fitness (PLNT) has issued an announcement.
Planet Fitness, Inc. has initiated a substantial $280 million accelerated share repurchase agreement with Citibank, tapping into its increased $500 million share buyback program. This strategic move, which involves an immediate cash transaction for about 3.1 million shares, allows for potential adjustments based on stock price fluctuations. With the final settlement projected for the third quarter of 2024, this announcement reflects the company’s confident update on its financial outlook and commitment to enhancing shareholder value.
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