Is it correct if I split the original sentence below (in bold) into two and then rephrased as follows?

As I am late, I will take a taxi.
I am late. Therefore, I will take a taxi.

Is 'rephrased' correctly used in the top sentence in bold?

Or should I write as: Is it correct if I split the original sentence in bold into two and then rephrase it as follows?

Many thanks.