DM - Desktop Metal stock slides 12% on offering of $150M convertible senior notes

Desktop Metal (NYSE:DM) shares slid 12% Tuesday morning after tge firm announced plans to issue $150M of convertible senior notes due 2027 in a private offering. Initial purchasers of the notes may be granted an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $22.5M principal amount of notes. The notes will mature on May 15, 2027, unless earlier repurchased, redeemed or converted. They will accrue interest payable semi-annually in arrears. The notes will be redeemable, in whole or in part, for cash at Desktop Metal’s option on or after May 20, 2025 and on or before the 40th scheduled trading day immediately before the maturity date. Noteholders will also have the right to convert their notes in certain circumstances and during specified periods. Net proceeds will be used to fund working capital expenditures and for

For further details see:

Desktop Metal stock slides 12% on offering of $150M convertible senior notes