BrightView Repurchases Shares From MSD Partners

• BrightView Holdings Inc (NYSE:BV) has agreed to repurchase the remaining 5.9 million shares of its common stock held by MSD Partners and affiliates for $12.33/share.
• The purchase price represents a 6% discount to BrightView's closing price on March 11, 2022. BrightView recently repurchased half of MSD Partners' equity investment in the company.
• The company made the transaction in connection with its share repurchase program announced on December 6, 2021.
• The total purchase price for the shares will be ~$72.8 million and will be funded from cash and cash equivalents on hand and borrowings under the company's credit facilities.
• BrightView held cash and equivalents of $132.8 million as of December 31, 2021.
• The transaction is expected to be completed by April 4, 2022.
• Price Action: BV shares are trading higher by 2.57% at $13.59 on the last check Tuesday.