UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest Event
Reported):
(Exact Name of Registrant as Specified in its Charter)
(Jurisdiction of Incorporation) |
(Commission File Number) | (IRS Employer Identification No.) |
(Address of principal executive offices and zip code)
(
(Registrant’s Telephone Number)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | Trading symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging
growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
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 |
Cover |
Jun. 13, 2024 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Amendment Flag | false |
Document Period End Date | Jun. 13, 2024 |
Entity File Number | 001-13718 |
Entity Registrant Name | Stagwell Inc. |
Entity Central Index Key | 0000876883 |
Entity Tax Identification Number | 86-1390679 |
Entity Incorporation, State or Country Code | DE |
Entity Address, Address Line One | One World Trade Center |
Entity Address, Address Line Two | Floor 65 |
Entity Address, City or Town | New York |
Entity Address, State or Province | NY |
Entity Address, Postal Zip Code | 10007 |
City Area Code | 646 |
Local Phone Number | 429-1800 |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Title of 12(b) Security | Class A Common Stock, $0.001 par value |
Trading Symbol | STGW |
Security Exchange Name | NASDAQ |
Entity Emerging Growth Company | false |
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