Alight authorizes $75M accelerated share repurchase agreement

Alight has entered into an accelerated share repurchase agreement with Barclays Bank to repurchase $75M of Alight’s common stock, as part of the company’s existing share repurchase program which had remaining authority of $168M as of June 14. Alight will make an initial payment of $75M to Barclays Bank and will receive an initial delivery of shares equal in value to 80% of the prepayment amount of $75M, based on Alight’s closing share price as of the effective date of July 15. The final settlement of the transaction under the ASR is expected to occur during Q3.