Guardant Health, Inc. announced that on February 6, 2025, it entered into privately negotiated exchange agreements with certain holders of its outstanding 0% Convertible Senior Notes due 2027. The company will issue $600 million aggregate principal amount of 1.25% Convertible Senior Notes due 2031 in exchange for the retirement of approximately $659.3 million principal amount of 2027 Notes.
This transaction reduces total debt and extends maturities, with the new notes maturing on February 15, 2031. Following the closing, approximately $490.7 million in aggregate principal amount of 2027 Notes will remain outstanding.
In connection with the transactions, Guardant Health intends to repurchase approximately $45 million of its common stock from certain participants. This debt exchange and share repurchase are strategic financial moves to optimize the company's capital structure and enhance shareholder value.
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