DexCom prices $1.1B senior notes

DexCom (NASDAQ:DXCM) prices offering of $1.1B aggregate principal amount of 0.375% convertible senior notes due 2028 in a private placement.
The aggregate principal amount of the offering was increased from the previously announced offering size of $1B.
Initial purchasers are granted an option to purchase up to an additional $150M aggregate principal amount of notes.
The notes will be senior, unsecured obligations of Dexcom, and will bear interest at a rate of 0.375% per year, payable semi-annually.
$89.1M of the net proceeds will pay the cost of the capped call transactions and ~$188.7M of the net proceeds will be used to repurchase ~1.6M shares of common stock concurrently with the offering at a purchase price of $118.12 per share.
The sale of the notes is expected to close on May 5, 2023.