PAREXEL International Corporation (NASDAQ:PRXL) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01. Entry into a Material Definitive Agreement.
Company) entered into an amendment (the Amendment) to the Letter
Agreement Regarding Accelerated Share Repurchase Program (as
amended, the Agreement) by and between the Company and HSBC Bank
USA, National Association (HSBC), dated November 21, 2016. to the
terms of the Amendment, in no event will either the Company or
HSBC, upon settlement of the transaction, be required to deliver
a number of shares of common stock of the Company greater than
7,500,000 under the terms of the Agreement (subject to dilution
adjustments, if applicable, and except, in the event that the
Company is required to deliver shares, to the extent that the
Company has, or can use its best efforts to increase the number
of, available unauthorized but unissued shares of common stock
not reserved for other uses). All other terms of the Agreement
this Current Report on Form 8-K and incorporated herein by
reference. The foregoing description of the agreement is
qualified in its entirety by reference to the Amendment.
Amendment, effective February 27, 2017, to Letter
Agreement Regarding Accelerated Share Repurchase
Program by and between PAREXEL International
Corporation and HSBC Bank USA, National Association,
dated November 21, 2016.
About PAREXEL International Corporation (NASDAQ:PRXL)
PAREXEL International Corporation (PAREXEL) is a biopharmaceutical outsourcing services company. The Company provides a range of expertise in clinical research, clinical logistics, medical communications, consulting, commercialization, and technology products and services to pharmaceutical, biotechnology and medical device industries. Its segments include Clinical Research Services (CRS), PAREXEL Consulting Services (PC) and PAREXEL Informatics (PI). The CRS segment includes various phases of clinical research from first-in-man trials, where a medicinal entity is tested on human subjects for the first time, through post-marketing studies, following approval by the presiding regulatory body. The PC segment provides technical expertise and advice in areas, such as strategy, drug development, regulatory affairs, strategic compliance and targeted communications services in support of product launch. The Company’s PI segment provides information technology solutions. PAREXEL International Corporation (NASDAQ:PRXL) Recent Trading Information
PAREXEL International Corporation (NASDAQ:PRXL) closed its last trading session down -0.44 at 64.83 with 458,570 shares trading hands.