Emergent BioSolutions Inc. completed the repurchase of $75 million in aggregate principal of its 3.875% Senior Unsecured Notes due 2028, following authorization from its Board of Directors. The company spent approximately $68 million in cash at an average price of 90.6% of face value, reducing the notes' outstanding principal to approximately $364.7 million. Emergent said it retains a strong cash position and access to another $50 million through its asset-based revolving loan facility (credit line secured by company assets). Management plans to discuss the transaction and its broader multi-year transformation plan at investor conferences on September 9 and September 14, 2026, while continuing to monitor market conditions for potential refinancing of the remaining notes.