10:31 AM EDT, 04/11/2024 (MT Newswires) -- Exact Sciences ( EXAS ) said Thursday it has signed exchange and purchase agreements with some holders of the company's 0.3750% convertible senior notes due 2028.

The company said it will issue $620.7 million of a new series of 1.75% convertible senior notes due 2031 to the holders in exchange for the retirement of $359.7 million of the 2028 notes, and payment to the company of about $266.8 million in cash.

The transaction is expected to close April 17.

Shares of the company were down over 4% in recent trading.

Price: 70.51, Change: -3.09, Percent Change: -4.20