Magnachip Announces New $75 Million Stock Repurchase Program

Magnachip Announces New $75 Million Stock Repurchase Program

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The Street

By PR Newswire SEOUL, South Korea, Dec. 21, 2021 /PRNewswire/ — Magnachip Semiconductor Corporation (“Magnachip Corp.” or the “Company”) (MX) – Get Magnachip Semiconductor Corp. Report, announced today that the Board of Directors has authorized the Company to repurchase up to $75 million of the Company’s common stock. As an immediate step towards implementing the approved stock repurchase program, the Company has entered into an accelerated stock repurchase agreement (the “ASR Agreement”) with JPMorgan Chase Bank, National Association (“JPM”) to repurchase an aggregate of $37.5 million of Mag…

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