Collegium Pharmaceutical Inc. filed SEC Form 8-K: Other Events
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Item 8.01 Other Events.
On May 12, 2025, Collegium Pharmaceutical, Inc. (“Collegium” or the “Company”) announced the execution of an accelerated share repurchase agreement (the “ASR Agreement”) with Jefferies LLC to repurchase $25 million of the Company’s common stock. The ASR Agreement was undertaken as part of the $150 million share repurchase program authorized by its Board of Directors in January 2024.
Under terms of the ASR Agreement, the Company will pay $25 million to Jefferies LLC and will receive an initial delivery of 692,281 shares, based on the $28.89 closing stock price of Collegium’s common stock on May 9, 2025, representing approximately 80% of the total shares the Company expects to repurchase under the ASR Agreement. The final number of shares repurchased will be based on the volume-weighted average prices of Collegium’s common stock during the term of the ASR Agreement and subject to adjustments related to the terms and conditions of the ASR Agreement. The final settlement of the ASR Agreement is expected to be completed no later than the third quarter of 2025. As of March 31, 2025, Collegium had approximately 32.1 million shares outstanding.
Forward-Looking Statements
To the extent that the information in this Current Report on Form 8-K are not descriptions of historical facts regarding the Company, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The Company may, in some cases, use terms such as "predicts," "forecasts," "believes," "potential," "proposed," "continue," "estimates," "anticipates," "expects," "plans," "intends," "may," "could," "might," "should" or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Examples of forward-looking statements contained in this Form 8-K include, among others, statements about the share repurchase program, the transactions under the ASR and the expected completion date of the ASR. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results, performance, or achievements to differ materially from the company's current expectations, including risks relating to, among others: developments or changes in the securities markets and fluctuations in the trading volume and market price of the Company's common stock and other risks described under the heading "Risk Factors" in the Company’s Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q and other filings with the SEC. Any forward-looking statements that we make in this Form 8-K speak only as of the date of this Form 8-K. The Company assumes no obligation to update our forward-looking statements whether as a result of new information, future events or otherwise, after the date of this Form 8-K.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Dated: May 12, 2025 | Collegium Pharmaceutical, Inc. | |
| By: | /s/ Colleen Tupper | |
| Name: Colleen Tupper | ||
| Title: Executive Vice President and Chief Financial Officer | ||