Repligen expects $458.6 million in cash, but plans to use about $120 million to buy back shares. The deal moves much of its older debt to 2031, but the new notes carry more principal than the notes exchanged and may convert into shares, leaving no clear change to its outlook.
The cash gives Repligen more room for company needs and possible deals. Much of its older debt moves to 2031, but the new notes carry more principal than the notes exchanged and may turn into shares. Those competing effects leave no clear change to its business outlook.
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