UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
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| Item 8.01 | Other Events. |
On June 13, 2024, Stagwell Inc. (the “Company”) repurchased a total of 4,000,000 shares of the Company’s Class A common stock from certain affiliates of The Goldman Sachs Group, Inc. (“Goldman Sachs”) at a price of $6.34 per share, for an aggregate purchase price of $25,360,000. The purchase price represents an approximately 5% discount to the closing price of the Class A common stock on June 12, 2024. The repurchase was made in a privately negotiated transaction pursuant to the Company’s previously announced stock repurchase program. Following completion of the repurchase, Goldman Sachs held 12,981,022 shares of the Company’s Class A common stock. The repurchased shares were retired by the Company. The repurchase reduced the number of shares of the Company’s common stock outstanding by approximately 1.5%. As of June 13, 2024, following completion of the repurchase, the Company’s outstanding common stock consisted of 112,346,046 shares of Class A common stock and 151,648,741 shares of Class C common stock.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed by the undersigned hereunto duly authorized.
| Date: June 17, 2024 | Stagwell Inc. | |
| By: | /s/ Peter McElligott | |
| Peter McElligott | ||
| General Counsel | ||