Wingstop Inks $125M Accelerated Share Repurchase Agreement

Wingstop Inc WING has entered into an accelerated share repurchase agreement (ASR) with Morgan Stanley & Co. LLC to repurchase $125.0 million of Wingstop common stock.

The ASR was entered into under Wingstop's previously announced $250.0 million share repurchase program.

After completion of the ASR, $125.0 million will remain available under Wingstop's share repurchase program.

The company is funding the ASR with cash on hand. Under the terms of the agreement, Wingstop will receive an initial share delivery of approximately 567,000 shares.

The final settlement is scheduled to occur no later than the end of fiscal year 2023.

Wingstop held $199.9 million in cash and equivalents as of July 1, 2023.

Price Action: WING shares are trading higher by 2.52% at $169.46 on the last check Thursday.