08:33 AM EDT, 06/18/2024 (MT Newswires) -- Alight (ALIT) said Tuesday that it has entered into an accelerated share repurchase agreement with Barclays ( JJCTF ) to buy back $75 million of its common stock.

Alight said the agreement required it to pay Barclays ( JJCTF ) $75 million in exchange for 80% of shares valued at the stock's July 15 closing price. The remaining shares will be delivered and the deal is slated to be completed in Q3, Alight said.

The agreement is part of the company's existing share repurchase program, which had remaining authority of $168 million as of June 14, the company said.

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