Ropes & Gray advised J. Wood Capital Advisors LLC, acting as private placement agent to Repligen Corp., in a $600 million convertible senior notes transaction. The agreement closed Dec. 14 and was first announced in a Dec. 7 press release.
In the transaction, Repligen issued $600 million aggregate principal amount of 1.00% convertible senior notes due in 2028 to certain holders of its 2024 notes and certain new investors. Approximately $309.9 million principal amount of the 2028 notes will be exchanged for approximately $217.7 million principal amount of the 2024 notes. Repligen anticipates the cash proceeds from the new subscriptions will be approximately $276.2 million. The transaction extended the duration of Repligen’s debt and Repligen intends to use these proceeds for working capital and general corporate purposes, including to fund the possible acquisitions of, or investments in, complementary businesses, products, services and technologies.
Repligen is a global life sciences company based in Waltham, Mass., focused on developing bioprocessing technologies to manufacture biological drugs.
The Ropes & Gray team was led by capital markets partners Daniel Forman and Tom Holden, tax partner Alyssa Kollmeyer and capital markets counsel Ray Grant.
