Sep. 18 at 2:30 PM
$HALO From the press release (see below)
$1.47 billion (net proceeds) -
$162 million (cost of capped options) -
$217 million (total cost of 2027 notes) -
$435 million (total cost of 2028 notes) =
$656 million
$656 million is a lot of money left over for “working capital, capital expenditures” for a company that’s generating so much free cash flow. So I think it’s more for “potential acquisitions and strategic transactions, and, potentially, future note repurchases including repurchases of the Existing Convertible Notes from time to time following the offering or for the repayment of the Notes at maturity or upon early optional redemption at the Company's discretion.”
Since Helen said , it’s unlikely that they will make another acquisition in 2026, maybe she is expecting halozyme share price to go over
$113.36 and stay there for more than 20 days which would trigger an early conversion of the 2030-2031 convertible bonds (which were issued last year).
