Blackbaud to repurchase 7%-10% of company’s common stock by year-end

Blackbaud announced that it intends to repurchase 7% to 10% of the company’s common stock through the end of 2024. The repurchases will be made through a combination of accelerated share repurchase plans, block trades, and open market purchases as part of the company’s previously announced $500M share repurchase authorization. Consistent with this commitment, the company has entered into an Accelerated Share Repurchase agreement with Bank of America, N.A., to repurchase $200M of the company’s common stock. Since December 2023, the Company has repurchased approximately $77M of Blackbaud common stock, excluding the ASR announced today. Of this $77M, $41M was repurchased prior to the expansion and replenishment of the board authorization on January 17th, with the remaining $36M counting against the current $500M authorization.