CYRX - Cryoport prices upsized $350M convertible senior notes offering and stock offering

Cryoport (CYRX -1.8%) priced its offering of $350M principal amount of 0.75% convertible senior notes due 2026; offer was raised from earlier announced $300M. The issuance and sale of the notes are scheduled to settle on Nov.12. Initial purchasers granted 13 days to purchase up to an additional $52.5M principal amount of notes. The notes will accrue interest at a rate of 0.75% per annum, payable semi-annually in arrears, commencing June 1, 2022. The notes will mature on Dec.1, 2026,unless earlier repurchased, redeemed or converted; before Sep.1, 2026 noteholders will have the right to convert their notes with an initial conversion rate is 8.5038 shares per $1K principal amount of notes, which represents an initial conversion price of approximately $117.59/share. Cryoport also priced its earlier announced registered direct placement of 3.07M shares at $81.1/share; issuance and sale are scheduled to settle on Nov.12. Net proceeds expected to be ~$248.6M will be used to

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Cryoport prices upsized $350M convertible senior notes offering and stock offering