CryoPort Announces $200M Repurchase Program And The Repurchase Of $160M Of Convertible Senior Notes
Portfolio Pulse from Benzinga Newsdesk
Cryoport, Inc. (NASDAQ: CYRX) has announced a $200 million repurchase program for its common stock and/or convertible senior notes. The company has also repurchased $160 million of its 0.75% Convertible Senior Notes due in 2026 at an 11.5% discount to par value, reducing the principal balance to approximately $186.2 million.
August 06, 2024 | 9:02 pm
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Cryoport has initiated a $200 million repurchase program and repurchased $160 million of its 0.75% Convertible Senior Notes due in 2026 at an 11.5% discount, reducing the principal balance to $186.2 million.
The repurchase program and the discounted repurchase of convertible notes are likely to be viewed positively by investors, as they can signal confidence in the company's financial health and potentially improve earnings per share.
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