Repligen Announces $1 Billion Private Convertible Senior Notes Transaction
Key Highlights
- ➤Repligen to issue $1.0 billion of 0.25% convertible notes due 2031
- ➤$458.6 million of new notes will be issued for cash
- ➤New notes’ initial conversion price is approximately $226.37 per share
- ➤Repligen plans to use approximately $120.0 million to repurchase shares
- ➤2028 Notes balance falls to approximately $143.2 million after closing
Expert Statements
Jason Garland, Chief Financial Officer of Repligen
“These transactions proactively address the upcoming maturity of our 2028 Notes, extend our debt duration, reduce our interest expense, and enhance our financial flexibility.”
Jason Garland, Chief Financial Officer of Repligen
“The reduced interest expense is expected to be nominally accretive to adjusted EPS in 2026, with additional benefit expected in 2027.”
Jason Garland, Chief Financial Officer of Repligen
“By strengthening our capital structure, we have increased our capacity to support both organic investments and disciplined M&A activity to drive long-term value creation for shareholders.”
Jason Garland, Chief Financial Officer of Repligen
“In the near-term, we are focused on the successful integration of BioLife, and we remain excited about our expanded capabilities to serve the cell therapy end-market.”
WALTHAM, Mass., Oct. 30, 2026 (GLOBE NEWSWIRE) -- Repligen Corporation (NASDAQ:RGEN) (“Repligen”), today announced that it entered into privately negotiated exchange and/or subscription agreements with certain holders of its outstanding 1.00% Convertible Senior Notes due 2028 (the “2028 Notes”) and certain new investors, pursuant to which Repligen will issue $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2031 (the “New Notes”). Approximately $541.4 million principal amount of the New Notes will be issued in exchange for approximately $456.8 million principal amount of 2028 Notes (the “Exchange Transactions”) and approximately $458.6 million principal amount of the New Notes will be issued for cash (the “Subscription Transactions”, and together with the Exchange Transactions, the “Transactions”). The conversion price for the New Notes will initially be approximately $226.37 per share of Repligen’s common stock, which represents a conversion premium of approximately 20% over the closing price of Repligen’s common stock on October 29, 2026, subject to customary anti-dilution adjustments. Following the closing of the Transactions, which is expected to occur on or about November 6, 2026, subject to customary closing conditions, approximately $143.2 million in aggregate principal amount of 2028 Notes will remain outstanding with terms unchanged.
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