05:45 PM EST, 11/13/2024 (MT Newswires) -- Oddity Tech ( ODD ) entered a deal with a fund managed by L Catterton to repurchase about 2.35 million of its Class A ordinary shares at $42.501 apiece for roughly $100 million, Oddity said late Wednesday.

The company said it plans to fund the deal from its cash resources.

The transaction is independent of the company's standing share buyback plan to repurchase up to $150 million over three years.

After the closing, L Catterton will own about four million shares, representing roughly 7% of the Oddity's ordinary shares outstanding as of Sept. 30.

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