TransMedics upsizes and prices $400M senior convertible notes
- TransMedics Group (NASDAQ:TMDX) upsizes and prices $400M aggregate principal amount of convertible senior unsecured notes that will mature on June 1, 2028.
- The offering was upsized from the previously announced offering size of $300M aggregate principal amount of notes.
- The initial purchasers have an option to purchase up to an additional $60M aggregate principal amount of notes.
- The sale of the notes to the initial purchasers is expected to settle on May 11, 2023.
- Net proceeds will be ~$387.2M and $445.4M if the option is exercised.
- The proceeds will be used to expand its logistics network through potential partnerships and acquisitions and for general corporate purposes.