08:03 AM EDT, 08/01/2025 (MT Newswires) -- United Therapeutics ( UTHR ) said Friday it will enter into two accelerated share repurchase, or ASR, agreements with Citigroup's ( C ) Citibank to repurchase $1 billion of its common stock.

The plan consists of a $500 million collared agreement and a $500 million uncollared agreement, United said.

Under the terms, United will make an upfront payment of $1 billion to Citibank on Monday and will receive an initial delivery of shares representing around 75% of the total shares expected to be repurchased under the uncollared ASR, plus about 50% of the shares expected to be repurchased under the collared ASR agreement, according to a statement.

United will receive an additional delivery of shares under the collared ASR agreement prior to final settlement following the completion of an agreed-upon hedging period, the company said.

Final settlement will be in Q4 for the uncollared ASR and Q1 of 2026 for the collared ASR, according to the statement.

United Therapeutics' ( UTHR ) shares were 5.6% higher in premarket trading.