Snap (SNAP) has released an update.
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In a strategic financial move, a company has agreed to repurchase significant portions of its outstanding convertible senior notes—$100 million of the 2025 Notes at a price of $97.8 million and $351.2 million of the 2026 Notes at $336.4 million, both inclusive of accrued interest. The final repurchase amounts will be adjusted based on the stock’s average price during a set period, with the transactions expected to finalize on February 14, 2024.
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