LAUREATE EDUCATION ANNOUNCES INCREASE TO SHARE REPURCHASE PROGRAM

Rhea-AI Summary

Laureate Education (NASDAQ: LAUR) has increased its share repurchase program from $500 million to $600 million. To date, the company has repurchased approximately $435 million of its shares. The additional $100 million will be financed through cash on hand or its revolving credit facility, with completion expected in the first half of 2022, contingent on market conditions. This move reflects the company's commitment to enhancing shareholder value and managing capital efficiently.

Positive

• Increase in share repurchase program from $500 million to $600 million.
• Approximately $435 million of shares repurchased to date, indicating strong buyback commitment.
• Intention to complete the buyback within the first half of 2022, which may positively influence stock price.

Negative

• None.

BALTIMORE, Dec. 14, 2021 /PRNewswire/ -- Laureate Education, Inc. (NASDAQ: LAUR) (the "Company") today announced that its board of directors approved an increase in the Company's existing share repurchase program, from $500 million to $600 million, to acquire shares of the Company's Common Stock.  The Company has repurchased approximately $435 million of shares under the authorization to-date.

The Company expects to finance the additional $100 million of repurchases with cash on-hand or from its revolving credit facility, or a combination thereof.  The Company also expects to complete the repurchase program in the first half of 2022, dependent on market conditions.

Forward-Looking Statements

This press release includes certain statements which contain "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates" or "anticipates" or similar expressions that concern our strategy, plans or intentions. In particular, statements regarding the impact of the Forward-looking statements are based on the Company's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.  Important factors that could cause actual results to differ materially from our expectations are disclosed in our Annual Report on Form 10-K filed with the SEC on February 25, 2021, our Quarterly Reports on Form 10-Q filed and to be filed with the SEC and other filings made with the SEC.

About Laureate Education, Inc.

Laureate Education, Inc. operates five universities across Mexico and Peru, enrolling more than 350,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit. Learn more at laureate.net.

Investor Relations Contact:

ir@laureate.net

Media Contact:

Adam Smith
Laureate Education, Inc.                              
adam.smith@laureate.net
U.S.:  +1 (443) 255 0724

View original content:https://www.prnewswire.com/news-releases/laureate-education-announces-increase-to-share-repurchase-program-301444702.html

SOURCE Laureate Education, Inc.

FAQ

What is the new share repurchase amount for Laureate Education (LAUR)?

The new share repurchase amount has been increased to $600 million.

How much has Laureate Education (LAUR) repurchased to date?

Laureate Education has repurchased approximately $435 million of its shares to date.

When does Laureate Education (LAUR) expect to complete its share buyback program?

The company expects to complete the repurchase program in the first half of 2022, depending on market conditions.

How will Laureate Education (LAUR) finance the additional $100 million in share repurchases?

The additional $100 million in repurchases will be financed with cash on hand or through its revolving credit facility.