Zynex launches secondary offering of 2M shares, offers $50M notes to institutional buyers
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.