India, Aug. 10 -- CoreCivic, Inc. (CXW), a provider of government services and facilities, said Monday that it has entered into an accelerated share repurchase (ASR) agreement with a financial institution to repurchase $500 million of its shares. The company also raised its full-year FFO per share outlook. Its shares rose about 5% in pre-market trading.
Following completion, about $255.8 million will remain under its $755.8 million share repurchase program approved by the board on August 4, 2026.
CoreCivic said it will pay $500 million to the dealer on August 10 and expects to initially receive approximately 12.4 million shares. Final settlement is expected before the end of the second quarter of 2027.
Additionally, CoreCivic updated its...