ATI To Buyback Up To $700 Mln Of Common Stock

(RTTNews) - ATI Inc. (ATI) announced Tuesday that its Board of Directors has authorized the repurchase of up to $700 million of its outstanding common stock, which the Company currently expects will support a multi-year share repurchase program.

The repurchases under the program may be made in the open market or in privately negotiated transactions, with the amount and timing of repurchases depending on market conditions and corporate needs.

ATI said the stock repurchase program may be modified, suspended, or terminated at any time by the Board of Directors without prior notice.

Additionally, the Company has notified the holders of the remaining $291 million principal amount outstanding of its 3.5% Senior Convertible Notes due 2025 that the notes will be redeemed on September 10, 2024.