Qiagen announces details for completion of share repurchase up to $300M

Qiagen announced details for completion of the synthetic share repurchase plan to return up to approximately $300M that combines a direct capital repayment to QIAGEN shareholders with a reverse stock split. The repayment from existing cash reserves is expected to lead to an approximately 3% reduction in the number of issued shares The terms of the synthetic share repurchase are as follows: Every 25 issued QIAGEN shares will be consolidated into 24.25 QIAGEN shares, leading to a reduction of approximately 6.9 million shares from the level of 230.8 million shares at the end of 2023. Following the implementation of the consolidation, QIAGEN will repay capital to shareholders of record in the amount of $1.28 per pre-split share. The last day of trading of the pre-split shares on the New York Stock Exchange and the Frankfurt Stock Exchange is planned to be Monday, January 29, 2024. Beginning on Tuesday, January 30.