Stock Repurchase

On September 3, 2025, Lyft announced a private offering of $450 million in Convertible Senior Notes due 2030, with an option for initial purchasers to buy an additional $50 million. The notes, convertible at $23.52 per share, won’t pay regular interest and can be redeemed by Lyft after September 20, 2028, under certain conditions. Lyft will use proceeds for capped call transactions (cap price ~$33.60) and to repurchase ~$95.7M of Class A common stock. Remaining funds are for general corporate purposes including potential acquisitions, though no specific agreements are in place.

Heineken Holding N.V. (HKHHY) repurchased 173,896 shares between August 25-29, 2025, at an average price of €61.20 per share. This buyback is part of the first tranche (up to €375 million) of their €750 million share buyback program, announced on February 12, 2025. As of August 29, 2025, Heineken has repurchased 2,305,014 shares for a total of €149.84 million. Weekly updates are available on the company website.

On August 20, 2025, Shell plc repurchased 1,373,940 shares across LSE, Chi-X, BATS, XAMS, and CBOE DXE, as part of its ongoing buyback program that runs from July 31 to October 24, 2025. LSE transactions ranged from £26.3250 to £26.6550, while European venue transactions ranged from €30.6650 to €30.9500. HSBC Bank plc independently manages the program within pre-established parameters, adhering to UK and EU market regulations.

DigitalOcean priced $550M in convertible senior notes due 2030, up from $500M, in a private offering. They’ll use $73.81M for capped call transactions against dilution and the rest with term loans to repurchase $1,131.3M of existing 2026 notes, extending repayment & potentially benefiting from interest rates. Initial conversion is 25.5317 shares/$1,000 note (39.17/share, 32.5% premium). DOcan redeem notes starting 2028 if share price exceeds 130% conversion price. A new $100M stock repurchase program was also authorized.

Ligand Pharmaceuticals (LGND) priced $400M convertible senior notes due 2030 in a private placement. The notes have a 0.75% interest rate and an initial conversion price of $194.79 per share, a 32.5% premium. Ligand expects $386.9M net proceeds, using $39.9M for hedge transactions, $15M to repurchase shares, and the rest for corporate purposes. The notes can be converted under certain conditions, and Ligand may redeem them after October 2028 if its stock price reaches 130% of the conversion price.

Shell plc (SHEL) has initiated a $3.5 billion share buyback program spanning approximately three months, concluding by October 24, 2025. Executed via two $1.75 billion contracts on London and Netherlands exchanges, the program aims to reduce issued share capital by cancelling all repurchased shares, up to 602,100,000. Completion is expected before Shell’s Q3 2025 results, contingent on market conditions. The buyback demonstrates financial strength and boosts shareholder value.

Volcon (VLCN) now holds 3,183.37 BTC, acquired for approximately $375 million at an average of $117,697 per Bitcoin. The company is actively managing its position by selling short-term put contracts to potentially acquire more Bitcoin at lower prices. Volcon’s board has also authorized a $100 million stock repurchase program. The company believes this treasury strategy reflects its confidence in Bitcoin as a long-term store of value. Volcon aims to offer investors efficient exposure to Bitcoin through the public equity market.

Torrid Holdings Inc. announced a public offering of 10,000,000 shares of common stock at $3.50, led by selling stockholders, with a closing expected around June 26, 2025. Underwriters have an option to purchase more shares. Concurrently, Torrid will repurchase $20.0 million of its stock from Sycamore Partners. Torrid will not receive proceeds from the offering. BofA Securities, Jefferies, and William Blair are managing the offering. Detailed information can be found in SEC filings.

ASML Holding executed a share buyback program from June 2-6, 2025, repurchasing 94,040 shares at prices between €643.47 and €663.09. The total value of the repurchases was approximately €61.47 million. This buyback is part of the existing capital return strategy announced on November 10, 2022, and complies with Market Abuse Regulation (Nr. 596/2014).