QIAGEN will return about $300 million to shareholders through a synthetic buyback of Investing.com shares

• The return of capital to be carried out through synthetic share repurchases “combines a rapid direct repayment of capital to shareholders with an EPS-enhancing reverse stock

• The return of up to the $300 million “shareholder-approved maximum” will be completed by the end of January 2025.

• It follows approximately $300 million returned to shareholders in early 2024 as part of a commitment to return at least $1 billion by the end of 2028.

VENLO, The Netherlands–( BUSINESS WIRE )–QIAGEN NV (NYSE: QGEN ; Frankfurt Prime Standard: QIA ) today announced a new plan to return up to approximately $300 million (a maximum of €281 million) to shareholders through a synthetic share repurchase combining direct repayment of capital with a reverse stock split.

This new repurchase comes after QIAGEN returned about $300 million to shareholders in early 2024 through a synthetic share repurchase. Together, these two programs represent a $600 million commitment to return at least $1 billion to shareholders by the end of 2028 (excluding M&A opportunities).

QIAGEN decided to implement the maximum value of the $300 million mandate given at the June 2024 annual meeting, where shareholders gave near-unanimous approval of the related resolutions.

This approach is designed to return cash to shareholders in a much faster and more efficient manner than through a traditional open market buyback program. This would also increase earnings per share (EPS) through a reduction in shares outstanding.

QIAGEN has a proven track record of delivering on our commitments from our differentiated portfolio, which includes using our healthy balance sheet to improve our business while increasing shareholder returns, said Thierry Bernard, CEO of QIAGEN. This new repurchase marks an important step in creating value for our shareholders and other stakeholders as we execute on our 2028 ambitions to deliver solid profitable growth.

Roland Sackers, Chief Financial Officer of QIAGEN, said: Our synthetic share buyback structure is a well-known and proven value-enhancing approach that has been used by many Dutch companies. QIAGEN will continue to have a solid investment grade profile following the completion of this repurchase in early 2025. We are exploring various targeted M&A and organic growth investment opportunities that will help us deliver on our commitment to solid profitable growth.

This type of share buyback involves three steps:

The synthetic share repurchase will become effective on January 28, 2025 and will be settled in accordance with the market convention in the following days. Additional information about this process will be released prior to implementation.

About QIAGEN

QIAGEN NV, a holding company headquartered in the Netherlands, is a leading global provider of Sample to Insight solutions that enable customers to gain valuable molecular insights from samples that contain the components of life. Our sampling technologies isolate and process DNA, RNA and proteins from blood, tissue and other materials. Assay technologies make these biomolecules visible and ready for analysis. Bioinformatics software and knowledge bases interpret data to report relevant, actionable insights. Automation solutions tie them together into seamless and cost-effective workflows. QIAGEN provides solutions to more than 500,000 clients worldwide in molecular diagnostics (human healthcare) and life sciences (academia, pharmaceutical research and development and industrial applications, primarily forensics). As of September 30, 2024, QIAGEN employed more than 5,800 people in more than 35 locations worldwide. Additional information can be found at https://www.qiagen.com.

Forward looking statement

Certain statements contained in this press release may be considered forward-looking statements within the meaning of Section 27A of the US Securities Act of 1933, as amended, and Section 21E of the US Securities Exchange Act of 1934 ., with amendments. To the extent any of the statements contained herein relate to QIAGEN products, including those products used in response to the COVID-19 pandemic, timing of launch and development, marketing and/or regulatory approvals, financial and operational prospects, growth and expansion , collaborations, markets, strategy or operating results, including without limitation its expected adjusted net sales and adjusted diluted earnings results, are forward looking, as statements are based on current expectations and assumptions that include a number of uncertainties and risks. Such uncertainties and risks include, but are not limited to, risks associated with managing growth and international operations (including the effects of currency fluctuations, regulatory processes and dependence on logistics), variability of business results and distributions between classes of customers, commercial development of markets for our products to customers in academic community, pharmacy, applied testing and molecular diagnostics; changing relationships with customers, suppliers and strategic partners; competition; rapid or unexpected changes in technologies; fluctuations in demand for QIAGEN products (including fluctuations due to general economic conditions, the level and timing of customer financing, budgets and other factors); our ability to obtain regulatory approval for our products; difficulties in successfully adapting QIAGEN’s products to integrated solutions and manufacturing such products; QIAGEN’s ability to identify and develop new products and to differentiate and protect our products from those of competitors; market acceptance of QIAGEN’s new products and integration of acquired technologies and operations; government actions, global or regional economic developments, weather or transportation delays, natural disasters, political or public health crises, including the breadth and duration of the COVID-19 pandemic and its impact on demand for our products and other aspects of our business, or other force majeure events ; as well as the possibility that the expected benefits associated with recent acquisitions or pending acquisitions may not materialize as expected; and other factors discussed under the heading Risk Factors contained in Item 3 of our most recent Annual Report on Form 20-F. For further information, see the discussions in the reports QIAGEN has filed with or provided to the US Securities and Exchange Commission.

Source: QIAGEN NV
Category: Financial

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QIAGEN:

IInvestor relations
John Gilardi +49 2103 29 11711
Domenica Martorana +49 2103 29 11244
email: ir@QIAGEN.com

Public relations
Thomas Theuringer +49 2103 29 11826
Lisa Specht +49 2103 29 14181
email: pr@QIAGEN.com

Source: QIAGEN NV