RKLY - Rockley Photonics announces $81.5M notes and warrants private offering

Rockley Photonics (NYSE:RKLY) has announced a $81.5M private placement of convertible senior secured notes and warrants. Participating investors will buy $81.5M aggregate principal amount of Convertible Senior Secured Notes due 2026 and warrants to purchase 26.5M Rockley ordinary shares at $5/share. The warrants will expire ten years from the date of issuance. Initial purchasers of the notes will have an option to purchase up to an additional $81.5M aggregate principal amount of notes and warrants. The notes will bear an cash interest of 9.5% per annum, will be convertible at an initial conversion price equal to $3.08/share and will mature on four years from the date of closing. The transaction is expected to close on May 23, 2022. Net proceeds from the sale, along with other liquidity sources, will support the continued development of Rockley biosensing platforms, repayment of ~$24.9M of existing debt, and for general corporate purposes. RKLY shares

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Rockley Photonics announces $81.5M notes and warrants private offering