WYOMISSING, PA — PENN Entertainment, Inc. (Nasdaq: PENN) recently announced the final terms of its previously disclosed note repurchase transactions. The company agreed to repurchase certain outstanding 2.75% Convertible Senior Notes due 2026, reducing the principal amount of these notes and advancing its financial strategy.
The total cash consideration for these transactions amounted to approximately $233.5 million, which includes accrued and unpaid interest. Following the settlement, PENN Entertainment now has $106.7 million in aggregate principal amount of Convertible Senior Notes remaining outstanding. The repurchase period took place from June 16 to June 18, 2025.
By completing these transactions, PENN eliminated approximately 9.6 million shares tied to the Convertible Senior Notes from its diluted share count. This move helps streamline the company’s capital structure while complementing its broader goals for shareholder returns.
PENN remains focused on its pledge to repurchase at least $350 million in shares during 2025, a goal that is incremental to the completed note repurchase.
HudsonWest LLC served as the exclusive financial advisor to the company throughout the transaction process.
This financial maneuver highlights PENN Entertainment’s strategic approach to optimizing its balance sheet and reinforcing its commitment to creating value for shareholders.
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