Lose data when converting SqlChars to string?

I apologize if this has been asked, I cannot find a question that asks the same.

Is there a data loss when converting from SqlChars to string?

I need to use Regex in a SQL CLR user defined function to replace a pattern within the SqlChars value, but Regex is requiring a string input and its output is also a string.

Here is a sample code:

public partial class UserDefinedFunctions
{
    [Microsoft.SqlServer.Server.SqlFunction]
    [return: SqlFacet(MaxSize = -1)]
    public static SqlChars RegexReplace(SqlChars text1, SqlString pattern, SqlString replacement)
    {
        return new SqlChars(Regex.Replace(text1.Value.ToString(), @pattern.Value, replacement.Value));
    }        
}

Thanks, Niki