Lemaitre Vascular, Inc. has announced its intention to offer $150,000,000 aggregate principal amount of convertible senior notes due 2030 in a private offering to qualified institutional buyers. The company also expects to grant the initial purchasers of the notes an option to purchase up to an additional $22,500,000 aggregate principal amount of notes.
The notes will be senior, unsecured obligations of Lemaitre, will accrue interest payable semi-annually in arrears, and will mature on February 1, 2030. Noteholders will have the right to convert their notes into cash, shares of Lemaitre’s common stock, or a combination of cash and shares of Lemaitre’s common stock. The notes will also be redeemable for cash at Lemaitre’s option at any time on or after February 5, 2028, under certain conditions.
Lemaitre intends to use the net proceeds from the offering for working capital and other general purposes, which may include acquisitions of or investments in complementary companies, product lines, products, or technologies.
Lemaitre (NASDAQ: LMAT) is a provider of devices, implants, and services for the treatment of peripheral vascular disease. The company develops, manufactures, and markets disposable and implantable vascular devices.
The offer and sale of the notes and any shares of common stock issuable upon conversion of the notes have not been registered under the securities act or any other securities laws. Therefore, the notes and any such shares cannot be offered or sold except pursuant to an applicable exemption from, or in a transaction not subject to, such registration requirements of the securities act and any other applicable securities laws. Following these announcements, the company's shares moved -8.1%, and are now trading at a price of $92.51. If you want to know more, read the company's complete 8-K report here.
