(RTTNews) - Scholastic Corp. (SCHL), a publisher and distributor of books, on Thursday, announced plans to repurchase up to $200 million of its stock through a modified Dutch auction tender offer.
The offer is expected to commence on March 23 and expire on April 20, unless extended or earlier terminated.
The company expects to purchase shares at a price range of $36 to $40 per share.
The repurchase will be funded through cash on hand and borrowings under its revolving credit facility.
Scholastic closed the regular trading session on March 19, 2026, at $34.24, rose $0.85 or 2.55%. Later, in overnight trading, the share price rose to $38.95, gaining $4.71 or 13.76%, as of 11:49 PM EDT.
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