Subsequent Events |
9 Months Ended |
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Sep. 30, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events On October 29, 2026, the Company entered into privately negotiated exchange and subscription agreements with certain holders of its outstanding 1.00% Convertible Senior Notes due 2028 and certain new investors. Pursuant to the agreements, the Company expects to issue $1.0 billion aggregate principal amount of 0.25% Convertible Senior Notes due 2031 (the “New Notes”). Approximately $541.4 million principal amount of the New Notes will be issued in exchange for approximately $456.8 million principal amount of 2028 Notes (the “Exchange Transactions”) and approximately $458.6 million principal amount of the New Notes will be issued for cash (the “Subscription Transactions”, and together with the Exchange Transactions, the “Transactions”). In connection with the issuance of the New Notes, the Company intends to use approximately $120.0 million of the net proceeds from the Subscription Transactions to repurchase shares of its common stock from certain purchasers of the New Notes. The transactions are expected to close in November 2026, subject to customary closing conditions. On October 6, 2026, the Company completed its previously announced acquisition of BioLife Solutions, Inc. (“BioLife”), a company focused on developing cell processing tools and services for the cell and gene therapy market, for approximately $1.9 billion, comprised of approximately 7.2 million shares in the Company’s common stock and approximately $564 million in cash on hand. BioLife stockholders received $11.25 in cash per BioLife share plus 0.1442 shares of the Company’s common stock per BioLife share. Following the acquisition, BioLife operates as the Company’s wholly owned subsidiary under the name “BioLife Solutions, LLC.” The Company will account for the acquisition in the fourth quarter of 2026.
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