Perhaps the extra cash takes the pressure off their cash position following the remaining portion of the COP acquisition. Hopefully, this sale of debt means the company will close on that portion of the acquisition, soon. I understand that debt is seen as a threat or risk factor, but with all this company has going, I am still surprised the stock dropped 8% on this news. It would have been equally logical to think of the debt sale as a positive, in that it is an indication that plans are being worked and progress is happening.
Good luck, longs.