The company entered agreements to settle a significant portion of its 5% senior notes due 2030, paying $230 million in cash for debt with a face value of $295 million. Expected to close by June 30, the transaction leaves approximately $255 million in principal remaining from the original $550 million issuance.

Chief Executive Ian Siegel noted that the move provides financial flexibility to prioritize artificial intelligence initiatives and expansion. This latest rally continues a strong period for the stock, which has more than doubled in value over the last three months as the company works to streamline its balance sheet.