ZipRecruiter Enters $50M Accelerated Share Repurchase

ZipRecruiter Inc ZIP has entered into an accelerated share repurchase agreement with Goldman Sachs & Co. LLC to repurchase $50 million of its common stock.
ZipRecruiter will make an initial payment of $50 million and receive an initial delivery of approximately 1.8 million shares by March 23, 2022.
The final settlement of the ASR is expected to occur by the second quarter of 2022.
As of March 15, 2022, ~$87.7 million remained available for future repurchases under ZipRecruiter’s previously announced $100 million share repurchase program, and ~$37.7 million will remain available after completion of the ASR.
Price Action: ZIP shares are trading higher by 1.72% at $22.44 on the last check Monday.