Masonite Enters $100M ASR Agreement

March 1, 2022 3:54 PM | 1 min read |

Masonite International Corp DOOR has entered an accelerated share repurchase agreement with Morgan Stanley & Co. LLC. to repurchase an aggregate of $100 million of shares.
The ASR Agreement is part of Masonite's existing share repurchase program, which after giving effect to the ASR, has ~$256 million remaining for future buyback.
Masonite will receive an initial delivery of ~848 thousand common shares in exchange for a prepayment of $100 million. These shares will be retired in the first quarter of 2022.
Price Action: DOOR shares are trading higher by 1.46% at $95.71 on the last check Tuesday.

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