2023-05-08 08:07:09 ET
- TransMedics Group ( NASDAQ: TMDX ) fell ~5% pre-market Monday after the maker of organ care systems announced a proposed offering of $300M of senior convertible notes that will mature on June 1, 2028.
- The offering available for qualified institutional buyers will also include an option for initial buyers to purchase up to an additional $45M aggregate principal amount of notes within 13 days.
- The company expects to use the net proceeds from the offering to meet the expenses of certain capped call transactions and strike partnerships or acquisitions to expand its logistics network and for general corporate purposes.
- With its Q1 2023 results early this month, TransMedics ( TMDX ) raised its full-year guidance after its revenue for the quarter jumped ~161% YoY to $41.6M
For further details see:
TransMedics slips on plans to offer $300M convertible notes