BrightView Repurchases Shares From MSD Partners

BrightView Holdings Inc BV has agreed to repurchase the remaining 5.9 million shares of its common stock held by MSD Partners and affiliates for $12.33/share.
The purchase price represents a 6% discount to BrightView's closing price on March 11, 2022. BrightView recently repurchased half of MSD Partners' equity investment in the company.
The company made the transaction in connection with its share repurchase program announced on December 6, 2021.
The total purchase price for the shares will be ~$72.8 million and will be funded from cash and cash equivalents on hand and borrowings under the company's credit facilities.
BrightView held cash and equivalents of $132.8 million as of December 31, 2021.
The transaction is expected to be completed by April 4, 2022.
Price Action: BV shares are trading higher by 2.57% at $13.59 on the last check Tuesday.