Item 8.01 Other Items.
On
The ASR Agreements provide that if the public announcement of the first closing
of the Company's previously announced sale of its life, accident and
supplemental benefits businesses in several countries to
Under the terms of the ASR Agreements, on
At final settlement, under certain circumstances the Dealers may be required to deliver additional shares of Cigna common stock to the Company, or in other circumstances, Cigna may be required to deliver, at its discretion, either shares of its common stock or cash to the Dealers. Final settlement of the ASR Agreements is expected to occur during the fourth quarter of 2022.
The ASR Agreements contain customary terms for these types of transactions, including, but not limited to, the mechanisms to determine the number of shares or the amount of cash that will be delivered at final settlement, the required timing of delivery of the shares, the specific circumstances under which final settlement of the transactions may be accelerated or extended or the ASR Agreements may be terminated early by Cigna or the Dealers, and various acknowledgments, representations and warranties made by the Company and the Dealers to one another. The terms of the ASR Agreements are subject to adjustment under the ASR Agreements if the Company were to enter into or announce certain types of transactions or to take certain corporate actions.
Each of the Dealers perform normal banking, investment banking and/or advisory services for Cigna from time to time for which they receive customary fees and expenses.
On
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description
99.1 Press release datedJune 16, 2022 .
104 Cover Page Interactive Data File (embedded within the Inline XBRL).
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