DM - Desktop Metal prices $100M convertible senior notes offering

Desktop Metal (NYSE:DM) has priced $100M of 6.0% convertible senior unsecured notes due May 15, 2027 in a private offering. Offering is expected to close on May 13, 2022. Initial purchasers granted an option to purchase up to an additional $15M principal amount of notes. Interest on the notes will be payable semi-annually in arrears on May 15 and November 15 of each year, beginning on November 15, 2022. Net proceeds to be approximately $96.7M (or approximately $111.3M if the initial purchasers fully exercise their option) which will be used to fund working capital expenditures and for other general corporate purposes. DM stock rises 24% premarket to $1.33 after plunging more than 61% to its 52-week low of $1.26 on Tuesday on Q1 earnings miss and weak outlook.

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Desktop Metal prices $100M convertible senior notes offering