Collegium Pharmaceutical Inc.

05/12/2025 | Press release | Distributed by Public on 05/12/2025 06:10

Material Event (Form 8-K)

Item 8.01 Other Events.

On May 12, 2025, Collegium Pharmaceutical, Inc. ("Collegium" or the "Company") announced the execution of an accelerated share repurchase agreement (the "ASR Agreement") with Jefferies LLC to repurchase $25 million of the Company's common stock. The ASR Agreement was undertaken as part of the $150 million share repurchase program authorized by its Board of Directors in January 2024.

Under terms of the ASR Agreement, the Company will pay $25 million to Jefferies LLC and will receive an initial delivery of 692,281 shares, based on the $28.89 closing stock price of Collegium's common stock on May 9, 2025, representing approximately 80% of the total shares the Company expects to repurchase under the ASR Agreement. The final number of shares repurchased will be based on the volume-weighted average prices of Collegium's common stock during the term of the ASR Agreement and subject to adjustments related to the terms and conditions of the ASR Agreement. The final settlement of the ASR Agreement is expected to be completed no later than the third quarter of 2025. As of March 31, 2025, Collegium had approximately 32.1 million shares outstanding.

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