Guidewire Software (GWRE) Announces $200M Accelerated Buyback

Guidewire (NYSE: GWRE) today announced that as part of its previously announced $400 million share repurchase authorization, the company has entered into an accelerated share repurchase agreement (“ASR”) with Morgan Stanley & Co. LLC to repurchase an aggregate of $200 million of Guidewire’s outstanding shares of common stock.

Under the terms of the ASR, Guidewire will receive an aggregate initial share delivery of 2,581,478 shares, with the remainder, if any, expected to be delivered upon the final settlement under the ASR, which is scheduled to occur during the third quarter of its fiscal year 2023, upon completion of the repurchases. The specific number of shares that Guidewire ultimately repurchases under the ASR will be based on the average of Guidewire’s daily volume-weighted average share prices during the repurchase period, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR.

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