ZYXI - Zynex launches secondary offering of 2M shares offers $50M notes to institutional buyers
2023-05-03 16:31:40 ET
-
Zynex ( NASDAQ: ZYXI ) said Wednesday it has commenced a secondary public offering of 2 million shares of its common stock.
-
The shares are being offered by the company's CEO Thomas Sandgaard.
-
Sandgaard also intends to grant the underwriter a 30-day option to purchase up to an additional 300,000 shares
-
Zynex will not receive any of the proceeds from the secondary offering and Zynex will bear the associated costs.
-
RBC Capital Markets is acting as the sole book-running manager of the secondary offering.
-
Concurrently with the secondary offering, Zynex is offering to qualified institutional buyers $50.0 million convertible senior notes due 2026.
-
Zynex also intends to grant the initial purchaser of the notes an option to purchase up to an additional $7.5 million notes.
-
The secondary offering is not contingent upon the consummation of the notes offering and the notes offering is not contingent upon the consummation of the secondary offering.
-
Shares -21.8% at $11.38 after hours.
For further details see:
Zynex launches secondary offering of 2M shares, offers $50M notes to institutional buyers