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An update from Outbrain ( (OB) ) is now available.
Outbrain Inc. has successfully completed the repurchase of its remaining 2.95% Convertible Senior Notes due in 2026 for $118 million, at a 7.5% discount, from Baupost Group Securities, L.L.C. This strategic financial move not only generated a pre-tax gain of about $8.8 million for the third quarter of 2024 but also cleared the company’s balance sheet of debt. Outbrain’s CFO highlighted the repurchase reflects the company’s strong cash generation and healthy balance sheet, positioning it well for the anticipated Teads acquisition and future growth.
See more data about OB stock on TipRanks’ Stock Analysis page.
