Repligen sees year-end cash, cash equivalents $717M-$727M

Jason Garland, Chief Financial Officer at Repligen said, “The exchange of the majority of our 2024 Notes addresses their impending maturity and extends the duration of our debt. Combined with the new subscriptions, the Transactions strengthen our balance sheet and provide added flexibility as we continue to execute on our M&A and organic growth strategies. As a result of the Transactions, we are updating our year-end cash and cash equivalent guidance to $717 – $727 million, up from $455 – $465 million communicated in our third quarter of 2023 earnings call. The increase reflects the cash proceeds from the Subscription Transactions, net of fees, estimated expenses and the share repurchases associated with the Subscription Agreements. Any portion of the proceeds used to finance in part the settlement upon conversion or repurchase of the remaining 2024 Notes at or prior to maturity, will be in used in 2024.”