ZipRecruiter shares rose Thursday after the online employment marketplace said it agreed to repurchase a large portion of its outstanding debt at a discount.

Shares were recently up 16% at $3.85. The stock has more than doubled over the past three months.

The company said it has entered into agreements to repurchase about $295 million of its 5% senior notes due 2030 for about $230 million in cash, a discount of about $65 million to the notes' face value.

Following the transactions, which are expected to close by June 30, the roughly $255 million principal amount of the notes will remain outstanding, down from the original $550 million issuance.

Chief Executive Ian Siegel said the repurchases would allow the company to retire more than half of its outstanding debt while maintaining a strong cash position.

ZipRecruiter said the move reduces its debt burden and increases financial flexibility as it continues investing in growth and artificial-intelligence initiatives.

Write to Anvee Bhutani at anvee.bhutani@wsj.com

(END) Dow Jones Newswires

June 25, 2026 10:44 ET (14:44 GMT)

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