Before these new notes, IDCC had just about $479 million in net cash in
the most recent 10-Q that was filed earlier this month. So if IDCC bought
back all of their debt, they would have that $480 million - so that's a nice
cash position particularly since their total market cap is currently $1.88
billion.
Part of these new notes will be to repurchase the old "2024" notes - which
are worth about $400 million in indebtedness.
We'll just have to see exactly how much of the "2024" notes that they
repurchase, but I'm guessing that their debt and cash position will be
roughly the same - and that's $899 million in cash and short term investments
and just about $420 million in total debts.
Hopefully IDCC can continue to generate (and increase) that healthy free
cash flow of $130 million last year and $150 million back in 2020 by
renewing the Apple and Samsung licenses.
Lastly, I'm a Rambus investor and they're not rolling out their debt - they have
about $172 million in convertible bonds and it looks like they're just buying
it back with their healthy cash flows of around $200 million annually.
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