Alnylam Pharmaceuticals announced a partial repurchase of its 1.00% Convertible Senior Notes due 2027.
The company entered into privately negotiated repurchase agreements with certain holders of the Notes.
Approximately $34.4 million principal amount of the Notes will be repurchased for a total cost of $51.9 million.
Repurchase Details
Approximately $34.4 million principal amount of the Notes repurchased for $51.9 million.
Remaining Notes
After the repurchase, approximately $362.8 million principal amount of the Notes will remain outstanding.
Capped Call Transactions
Previous capped call transactions with financial institutions expected to remain in effect.
- The repurchase will reduce the outstanding principal amount of the Notes.
- The company aims to optimize its financial position by repurchasing Notes at favorable terms.
Alnylam Pharmaceuticals strategically repurchased a portion of its Notes, demonstrating proactive financial management. This move is expected to positively impact the company's financial stability and optimize its capital structure in the long term.