01—Abstract
Summary
Summary of the 8-K filed August 5, 2024. Cited figures are marked; the original filing is the authoritative source.
Cencora, Inc. (COR) has filed an 8-K report detailing a significant share repurchase transaction.
On August 1, 2024, the company entered into a Share Repurchase Agreement to buy back 1,039,242 shares of its common stock directly from Walgreens Boots Alliance Holdings LLC for approximately $250 milliona. This transaction, which was completed on August 5, 2024, was conducted under the company's existing share repurchase program and the acquired shares will be held in treasury. This repurchase coincides with a separate sale of shares by the same selling stockholder, Walgreens Boots Alliance Holdings LLC, who sold 3,398,929 shares under Rule 144.
Following these transactions, Walgreens Boots Alliance Holdings LLC now holds approximately 10.2%b of Cencora's outstanding common stock. Investors should note that the company is actively managing its share count and capital allocation through these buyback programs, which can impact earnings per share and shareholder value.
02—Key points
Key Highlights
- Cencora entered into a Share Repurchase Agreement on August 1, 2024, to repurchase 1,039,242 shares of its common stock.
- The share repurchase was executed directly with Walgreens Boots Alliance Holdings LLC.
- The aggregate price paid for the repurchased shares was approximately $250 million.
- The transaction was consummated on August 5, 2024, and the repurchased shares will be held in treasury.
- The repurchase was made under Cencora's existing share repurchase program.
- Walgreens Boots Alliance Holdings LLC also sold 3,398,929 shares under Rule 144 concurrently.
- Post-transactions, Walgreens Boots Alliance Holdings LLC holds approximately 10.2% of Cencora's outstanding common stock.
03—Questions
Frequently Asked Questions
What is the primary purpose of this 8-K filing for Cencora?
The primary purpose of this 8-K filing is to report a material definitive agreement regarding a significant share repurchase transaction and to disclose related shareholding changes.
Who is the selling stockholder in this transaction, and what is their remaining stake?
The selling stockholder is Walgreens Boots Alliance Holdings LLC. After selling 3,398,929 shares under Rule 144 and Cencora repurchasing 1,039,242 shares, Walgreens Boots Alliance Holdings LLC now owns approximately 10.2% of Cencora's outstanding common stock.
How does this share repurchase affect Cencora's financial position and share count?
The repurchase reduces the number of outstanding shares, which can positively impact earnings per share (EPS) assuming net income remains constant. The company used approximately $250 million for this buyback, indicating a use of cash. The repurchased shares are held in treasury and can be reissued later or retired.
Is this share repurchase part of a larger buyback program?
Yes, the filing states that the repurchase was made under the Company's share repurchase program. This suggests Cencora has an ongoing authorization for share buybacks.
04—Continue