Company: ARVN
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049527
Chunk: 174

Company: ARVINAS, INC.
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 174
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Minimum future principal payments on long-term debt as of September 30, 2025 are as follows:(dollars in millions)Remainder of 2025$— 20260.2 20270.2 20280.2 Total$0.6 During the three and nine months ended September 30, 2025 and 2024, interest expense was immaterial.

9. Equity

Equity Distribution AgreementsIn November 2023, the Company amended and restated the Equity Distribution Agreement with Piper Sandler & Company (“Piper Sandler”) and Cantor Fitzgerald & Co. (“Cantor”), as agents, pursuant to which the Company may offer and sell from time to time, through the agents, up to approximately $262.8 million of the common stock registered under a universal shelf registration statement pursuant to one or more “at-the-market” offerings. During the nine months ended September 30, 2025, no shares were issued under this agreement.Share Repurchase ProgramOn September 17, 2025, the Company announced that its board of directors authorized and approved a share repurchase program for the repurchase of up to $100.0 million of the then-currently outstanding shares of the Company’s common stock. Share repurchases under the share repurchase program may be made from time to time through a variety of methods, which may include open market purchases, privately negotiated block trades, accelerated share repurchases, other privately negotiated transactions or any combination of these methods. Repurchases may also be made under a Rule 10b5-1 plan, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The share repurchase program is funded using the Company's working capital. The share repurchase program has no time limit and can be modified, suspended or discontinued at any time without prior notice. Repurchased shares are recorded as treasury stock, at cost, and are eligible to be reissued under the Company's stock plans and for other corporate purposes.During the three and nine months ended September 30, 2025, the Company repurchased 2,560,030 shares of its common stock, at an average price of $7.91 per share, for an aggregate purchase price of $20.2 million, plus commissions and excise tax of $0.1 million. As of September 30, 2025, the Company had $79.8 million remaining under its current