Jan. 14 at 12:18 AM
$EBS
This is how you do a proper share buyback program.
Full transparency, no strategic ambiguity.
I suspect the strategic ambiguity
$EBS opted for has to with the mood of OHA. They can veto any capital return program over
$30M.
The fact that, in 2025, they paid
$100M of debt, committed to purchasing
$50M of shares, and
$30M of unsecured debt tells me that sustainable free cash flow can be up to
$180M /year
https://www.globenewswire.com/news-release/2026/01/12/3216745/0/en/Bavarian-Nordic-Transactions-in-Connection-with-Share-Buy-Back-Program.html