Stop an Initiative without renewal and start Initiative with renewal - possible caveats?

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Hi there, 

I want to check what is your opinion on this scenario.

We have a course with Required Initiative on Offering level. There is no renewal set.

The 150 people have completed the course. We want to close the current Initiative and launch a new one - this time on Course level since we want to have renewal after 365 days. We will set up the re-ennrollment to happen 30 days before the 365 days. The OTBI report we use will be the same.

I want to know if the fact that these 150 people already have the course completed will be an issue when we launch the new Initiative with the Renewal on Course level?