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.-
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