ODDITY Tech Ltd. announced on November 13, 2024, that it has entered into an agreement with a fund managed by L Catterton to repurchase approximately 2.35 million Class A Ordinary Shares. The transaction involved a total cash consideration of approximately $100 million, with a purchase price of $42.501 per share.
This repurchase was funded from the company's existing cash resources and is separate from ODDITY's standing share buyback plan, which was announced on June 7, 2024, and authorizes up to $150 million in repurchases over three years. Including this transaction, ODDITY has repurchased $147 million of its shares year-to-date.
The company's strong financial position supports such capital allocation, with $248 million in cash, cash equivalents, and investments as of September 30, 2024, and an additional $100 million available through an undrawn credit facility. ODDITY also reported no financial debt, underscoring its robust balance sheet.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.