Wex Inc Stock Price, News & Analysis

WEX Inc (NYSE: WEX) has completed its modified 'Dutch auction' tender offer, successfully purchasing 4,870,130 shares at $154.00 per share. The tender offer, which expired on March 25, 2025, resulted in a total purchase of approximately $750 million worth of shares, representing about 12.5% of WEX's outstanding shares.

The final count showed that 4,891,736 shares were validly tendered, leading to a proration factor of approximately 99.55% due to oversubscription. The company accepted all valid 'odd lot' tenders in full, while conditional tenders that didn't meet conditions were automatically withdrawn. The depositary, Equiniti Trust Company, , will process payments for accepted shares and return unaccepted tendered shares.

WEX (NYSE: WEX) announces its premier health and benefits industry event, WEX SPARK Health & Benefits 2025, taking place in San Diego from March 31 to April 3. The event returns with a dedicated healthcare agenda for the first time in three years, bringing together business decision makers and industry leaders.

The conference will focus on key areas including:

• AI-driven insights for smarter benefits decisions and healthcare spending
• Simplifying FSA, HRA, and HSA reimbursement processes
• Enhanced fraud detection and compliance
• Policy implications for health and benefits markets

The event features the new WEX Innovation Experience, allowing professionals to interact with Product and Technology teams, and includes the WEX Community Awards recognizing partner achievements. Major sponsors include Mastercard, Visa, and FSA Store/HSA Store.

WEX Inc. (NYSE: WEX) has announced preliminary results of its modified 'Dutch auction' tender offer that expired on March 25, 2025. Based on preliminary counts, approximately 4,877,214 shares were validly tendered at or below the purchase price of $154.00 per share, including 1,547,927 shares tendered through guaranteed delivery.

The company expects to accept 4,870,130 shares for payment, representing about 12.5% of outstanding shares as of February 24, 2025. The total aggregate cost will be approximately $750 million, excluding fees and expenses. The preliminary proration factor is approximately 99.85%, with odd lots being accepted in full. Final numbers and payments will be announced after the guaranteed delivery period expires.

WEX (NYSE: WEX) has announced a multi-year extension of its partnership with Circle K, building upon their 15-year collaboration. The agreement focuses on expanding business fuel card programs and developing customized fleet management software.

Circle K has joined as an accepting merchant of 10-4 by WEX, a free mobile app providing fuel discounts to independent truckers and small trucking companies. The app is accepted at over 60% of Circle K's 475 locations offering high-flow diesel services. Additionally, Circle K participates in WEX EDGE, a premium diesel fuel discount network with over 4,000 locations nationwide.

The partnership spans multiple WEX business lines, including North America Mobility, Over-the-Road, and Professional Services. WEX currently processes approximately $231 billion in total volume and serves about 600,000 commercial fleet customers globally, managing roughly 19.8 million commercial vehicles as of 2024.

WEX (NYSE: WEX) and Reclaim Health have announced a strategic integration combining their healthcare financial management capabilities. The partnership integrates Reclaim's AI-powered claims-driven platform with WEX's benefits administration technology through BeneFITwise Premier feature.

The integration aims to help employees make informed benefit decisions and achieve cost savings while assisting employers in managing healthcare expenses. Key features include:

• Enhanced claims analysis and insights
• Proactive cost-saving recommendations
• Streamlined benefits selection and administration
• Personalized benefit support year-round

The collaboration focuses on addressing healthcare system navigation challenges through AI-powered data analytics and WEX's benefit administration expertise.

WEX (NYSE: WEX), a global commerce platform, has announced an upcoming investor community call scheduled for March 14, 2025 at 9:00 a.m. ET. The call will be hosted by Chair and CEO Melissa Smith and moderated by David Koning of Baird.

The event will include a Q&A session allowing investors to engage directly with management. Interested participants can access the live webcast through the Investor Relations section of WEX's website. An audio replay will remain available on the company website for 14 days following the presentation.

WEX Inc. (NYSE: WEX) has announced the pricing and upsizing of its senior unsecured notes offering to $550 million, an increase of $50 million from the previously announced $500 million. The notes, due 2033, will carry a 6.500% interest rate paid semi-annually.

The company plans to use the proceeds, along with a proposed $450 million incremental term loan B facility and cash on hand, to fund:

• A tender offer to purchase company shares for up to $750 million
• Repayment of approximately $250 million outstanding under the revolving credit facility
• Related fees and expenses

The offering is expected to close on March 6, 2025, subject to customary conditions. The notes will be guaranteed by WEX's wholly-owned domestic subsidiaries that guarantee the company's senior secured credit facilities.

WEX Inc. (NYSE: WEX) has announced a private offering of $500 million in senior unsecured notes due 2033. The company plans to use the proceeds, along with a proposed $500 million incremental term loan B facility and cash on hand, to fund:

• A tender offer to purchase company shares for up to $750 million
• Repayment of approximately $250 million outstanding under the revolving credit facility
• Related fees and expenses

The notes will be guaranteed by WEX's wholly-owned domestic subsidiaries that guarantee the company's senior secured credit facilities. The offering is not conditioned on completing either the incremental term loan or tender offer. If the tender offer is not completed, proceeds may be used for general corporate purposes, including credit facility repayments and stock repurchases.

WEX Inc. (NYSE: WEX) has announced plans to launch a 'modified Dutch auction' tender offer to repurchase up to $750 million worth of common stock. The purchase price will range between $148 and $170 per share.

The tender offer is expected to commence on February 26, 2025, and expire on March 25, 2025. WEX plans to fund this initiative through debt financings of at least $750 million. In a modified Dutch auction format, shareholders can specify both the number of shares and their preferred selling price within the stated range.

The final purchase price will be the lowest price that allows WEX to buy back $750 million worth of shares. All shares will be purchased at the same price, regardless of the shareholder's specified tender price. The tender offer is subject to certain conditions, including financing requirements.