11:16 AM EDT, 06/18/2024 (MT Newswires) -- AZEK ( AZEK ) said Tuesday that it has entered into an accelerated share repurchase agreement, or ASR, with Goldman Sachs ( GS ) to repurchase $50 million of its class A common shares.

Under the ASR, the company will initially receive about 0.9 million shares from Goldman Sachs ( GS ). The final settlement is expected by August, the company said.

After completing the ASR, AZEK ( AZEK ) said it will have about $625 million left in its share repurchase program.

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