3D Systems Shares Rise 14% After Buyback of Senior Notes
By Chris Wack
3D Systems shares were up 14% to $4.68 after the company entered into separate, privately negotiated repurchase agreements with a limited number of holders of its 0% convertible senior notes due 2026.
The stock is down 59% in the past 12 months.
The company intends to buy back $110 million of the notes at a 22% discount to par value.
The debt repurchase will be paid in cash from the company's balance sheet. The repurchases are expected to close Friday.
Following such closings, $214 million of the notes will remain outstanding, from an initial issued principal balance of $460 million. This remaining debt will continue to be held at 0% interest and will fully mature in November 2026.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
March 05, 2024 13:38 ET (18:38 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
Is ServiceNow Stock a Buy After Earnings and Its Investor Day?
-
3 Stocks to Buy and 3 Stocks to Sell After Earnings
-
Markets Brief: Is It Really a Surprising Quarter for Earnings?
-
After Earnings, Is Berkshire Hathaway Stock a Buy, a Sell, or Fairly Valued?
-
For Bond Investors, Delayed Rate Cuts Demand a Different Playbook
-
What’s Happening In the Markets This Week
-
How the Tokyo Stock Exchange Is Pushing for Better Shareholder Returns
-
Magnificent 7 Stocks Earnings Updates: AI Remains the Focus
-
After Earnings, Is Coke Stock a Buy, a Sell, or Fairly Valued?
-
Disney Earnings: Improved Streaming Results Come at the Expense of Continued Linear Weakness
-
Apple: We Expect New Models and New Chip to Spur Return to iPad Growth
-
Palantir Earnings: AI Platform Drives Strong Start to 2024
-
What I Hope My 14-Year-Old Learned at Berkshire Hathaway’s 2024 Annual Meeting
-
After Earnings, Is Amazon Stock a Buy, a Sell, or Fairly Valued?
-
The 10 Best Dividend Stocks
-
3 Stocks With High Dividend Yields That Warren Buffett Likes