February 4, 2023

(CARR) – Carrier Global Enters $500M Accelerated Share Repurchase Program

  • Carrier Global Corp (NYSE: CARR) entered into an accelerated share repurchase agreement with Goldman Sachs & Co. LLC to repurchase $500 million of the company’s common stock.
  • Carrier Global plans to use part of the proceeds from the sale of the Chubb business to finance the purchases of shares under the ASR.
  • The company entered into the ASR pursuant to its share repurchase program, under which $1.6 billion remained available as of December 31, 2021. After giving effect to the ASR, $1.1 billion will remain available.
  • The company will receive an initial delivery of ~7.6 million shares on January 4, 2022, with the final settlement of the ASR completed in Q1 of 2022.
  • Price Action: CARR shares are trading higher by 0.99% at $53.04 during the premarket session on Tuesday.

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