- Invitae ( NYSE: NVTA ) said Tuesday it signed certain exchange and financing agreements with a fund managed by Deerfield Management Company and other investors.
- Shares -2.1% at $2.10 after hours.
- Through privately negotiated agreements, the company intends to exchange about $306 million 2.00% convertible senior notes due 2024 (old notes) for about $275 million of new 4.50% series A convertible senior secured notes due 2028, along with about 14.3 million of its shares.
- Invitae will also sell $30 million of new notes to the investors for cash.
- Based on the initial conversion price of $2.5740, the new notes will be convertible into about 118.6 million shares.
- Press Release .
For further details see:
Invitae announces senior notes transaction with Deerfield