BrightView to repurchase remaining shares from MSD Partners
BrightView Holdings, Inc. (NYSE: BV) has entered into an agreement to repurchase the remaining 5.9 million shares of BrightView common stock held by MSD Partners and affiliates at a purchase price of $12.33 per share, representing a 6 percent discount from the NYSE official closing price of BrightView common stock on March 11, 2022.
The total purchase price for the shares will be approximately $72.8 million and will be funded from cash and cash equivalents on hand, as well as borrowings under the company’s credit facilities. The transaction, which was made in connection with BrightView’s share repurchase program announced on December 6, 2021, is expected to be completed on April 4, 2022.
“We would like to thank MSD for their long-term partnership with BrightView,” said Andrew Masterman, BrightView president and CEO. “Since 2006, they have provided support and guidance while we have executed on our growth strategy and transitioned into a publicly listed company.”