Varex Imaging Corporation (NASDAQ: VREX) has announced the closing of a private offering of $125 million aggregate principal amount of 7.875% senior secured notes due 2027 at an offering price of 101.5% of the principal amount thereof, plus accrued interest from and including October 15, 2024. This offering provides additional funds to address the partial repayment of the company's convertible notes coming due in June 2025, while preserving availability under its revolving credit facility.
Varex Imaging Corporation's CFO, Sam Maheshwari, expressed satisfaction with the successful closing of the offering, highlighting the benefits it brings to the company's financial position. This development is disclosed in Varex's Form 8-K filed on December 23, 2024.
Varex Imaging Corporation, with a 75-year history of successful innovation, is a leading innovator, designer, and manufacturer of x-ray imaging components used in medical imaging, as well as in industrial and security imaging applications. The company's products, including x-ray tubes, digital detectors, and other image processing solutions, are essential components of x-ray imaging systems and are incorporated by global OEM manufacturers into their systems for detection, diagnosis, protection, and inspection.
As a result of this offering, Varex Imaging Corporation has further solidified its financial position to meet its upcoming financial obligations while maintaining its global operations, with approximately 2,300 employees located in North America, Europe, and Asia. Following these announcements, the company's shares moved -0.4%, and are now trading at a price of $14.11. For the full picture, make sure to review Varex Imaging's 8-K report.
