Medical device company Align Technology recently announced its involvement in a new stock repurchase agreement with Goldman Sachs & Co. to repurchase $100 million of Align's common stock.
The agreement is a part of Align's stock repurchase program announced May 13, which would allow the company to repurchase $1 billion of its common stock over the next three years. The terms of the agreement give Align an initial amount of approximately 143,000 shares. The transaction will be funded by Align's cash on hand and is expected to be completed by August.