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    NuVasive, Inc. Announces Proposed Offering of $550 Million of Convertible Senior Notes Due 2021

    Vivien Diniz
    Mar. 10, 2016 09:29AM PST
    Medical Device Investing

    NuVasive, Inc. (NASDAQ: NUVA) announced today that it intends to offer, subject to market and other considerations, $550,000,000 aggregate principal amount of Convertible Senior Notes due 2021 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended

    NuVasive, Inc. (NASDAQ: NUVA) announced today that it intends to offer, subject to market and other considerations, $550,000,000 aggregate principal amount of Convertible Senior Notes due 2021 in a private placement to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The company also intends to grant to the initial purchasers of the Convertible Notes a 13-day option to purchase up to an additional $100,000,000 aggregate principal amount of the Convertible Notes.
    According to the news:

    In addition, NuVasive expects to enter into convertible note hedge transactions and warrant transactions with affiliates of one or more of the initial purchasers of the Convertible Notes (the “Option Counterparties”). The convertible note hedge transactions are expected generally to reduce the potential dilution to NuVasive’s common stock upon any conversion of Convertible Notes and/or offset any cash payments NuVasive is required to make in excess of the principal amount of converted Convertible Notes, as the case may be. The warrant transactions could separately have a dilutive effect to the extent that the market price per share of NuVasive’s common stock as measured over the applicable valuation period at the maturity of the warrants exceeds the applicable strike price of the warrants. However, subject to certain conditions, NuVasive may elect to settle all or a portion of the warrants in cash.

    Click here t0 view the full press release. 

    senior notesprivate placementconvertible senior notes
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