ATI Inc. (ATI) announced on Tuesday that its Board of Directors has authorized the repurchase of up to $700 million of its outstanding common stock. The company expects this to support a long-term share repurchase program.
These repurchases may occur on the open market or through privately negotiated transactions, contingent upon market conditions and corporate requirements.
ATI also noted that the stock repurchase program could be modified, suspended, or terminated at any time by the Board of Directors without prior notice.
Furthermore, the company has informed the remaining holders of its $291 million outstanding principal amount in 3.5% Senior Convertible Notes, due in 2025, that these notes will be redeemed on September 10, 2024.
