Integer Holdings Corporation Announces Conversion Period for 2.125% Convertible Senior Notes due 2028
Integer Holdings (NYSE: ITGR) has announced that holders of its 2.125% Convertible Senior Notes due 2028 can convert their notes from January 1, 2025, through March 31, 2025. The conversion opportunity arose because the company's stock price exceeded 130% of the conversion price for at least 20 trading days within a 30-day trading period ending December 31, 2024.
The notes are convertible at a rate of 11.4681 shares of common stock per $1,000 principal amount, equivalent to a conversion price of approximately $87.20 per share. Upon conversion, holders will receive cash up to the principal amount, and either cash, shares, or a combination thereof for any remaining conversion value, at Integer's discretion.
Integer Holdings (NYSE: ITGR) ha annunciato che i detentori dei suoi Titoli Senior Convertibili al 2.125% in scadenza nel 2028 possono convertire i loro titoli dal 1° gennaio 2025 al 31 marzo 2025. L'opportunità di conversione è emersa perché il prezzo delle azioni della società ha superato il 130% del prezzo di conversione per almeno 20 giorni di negoziazione all'interno di un periodo di 30 giorni che si conclude il 31 dicembre 2024.
I titoli sono convertibili a un tasso di 11.4681 azioni ordinarie per ogni $1.000 di valore nominale, equivalente a un prezzo di conversione di circa $87.20 per azione. Al momento della conversione, i detentori riceveranno contante fino all'importo principale e, a discrezione di Integer, contante, azioni o una combinazione di questi per qualsiasi valore di conversione rimanente.
Integer Holdings (NYSE: ITGR) ha anunciado que los tenedores de sus Notas Senior Convertibles al 2.125% con vencimiento en 2028 pueden convertir sus notas desde el 1 de enero de 2025 hasta el 31 de marzo de 2025. La oportunidad de conversión surgió porque el precio de las acciones de la compañía superó el 130% del precio de conversión durante al menos 20 días de negociación dentro de un período de 30 días que finaliza el 31 de diciembre de 2024.
Las notas son convertibles a una tasa de 11.4681 acciones ordinarias por cada $1,000 de monto principal, equivalente a un precio de conversión de aproximadamente $87.20 por acción. Al momento de la conversión, los tenedores recibirán efectivo hasta el monto principal y ya sea efectivo, acciones o una combinación de ambos por cualquier valor de conversión restante, a discreción de Integer.
Integer Holdings (NYSE: ITGR)는 2028년 만기 2.125% 전환 선순위 채권의 보유자가 2025년 1월 1일부터 2025년 3월 31일까지 채권을 전환할 수 있다고 발표했습니다. 전환 기회는 회사의 주가가 2024년 12월 31일로 끝나는 30일 거래 기간 동안 최소 20일 동안 전환가의 130%를 초과했기 때문에 발생했습니다.
이 채권은 $1,000의 원금에 대해 11.4681 주식으로 전환할 수 있으며, 이는 약 $87.20의 주당 전환 가격에 해당합니다. 전환 시 보유자는 원금에 대해 현금을 수령하고, Integer의 재량에 따라 남은 전환 가치는 현금, 주식 또는 이들의 조합으로 수령할 수 있습니다.
Integer Holdings (NYSE: ITGR) a annoncé que les détenteurs de ses Obligations Senior Convertibles à 2,125% venant à échéance en 2028 peuvent convertir leurs obligations du 1er janvier 2025 au 31 mars 2025. L'opportunité de conversion est survenue parce que le prix de l'action de l'entreprise a dépassé 130% du prix de conversion pendant au moins 20 jours de bourse au cours d'une période de 30 jours se terminant le 31 décembre 2024.
Les obligations sont convertibles à un taux de 11,4681 actions ordinaires pour chaque $1,000 de montant principal, équivalant à un prix de conversion d'environ $87.20 par action. Lors de la conversion, les détenteurs recevront de l'argent liquide jusqu'au montant principal, et soit de l'argent liquide, des actions, ou une combinaison de ceux-ci pour toute valeur de conversion restante, à la discrétion d'Integer.
Integer Holdings (NYSE: ITGR) hat bekannt gegeben, dass Inhaber seiner 2,125% wandelbaren Schuldverschreibungen mit Fälligkeit im Jahr 2028 ihre Anleihen vom 1. Januar 2025 bis zum 31. März 2025 umwandeln können. Die Möglichkeit zur Umwandlung entstand, weil der Kurs der Aktie des Unternehmens in einem Zeitraum von 30 Handelstagen, der am 31. Dezember 2024 endet, für mindestens 20 Handelstage über 130% des Umwandlungspreises lag.
Die Anleihen sind zu einem Satz von 11,4681 Aktien pro $1.000 Nennwert umwandelbar, was einem Umwandlungspreis von etwa $87.20 pro Aktie entspricht. Bei der Umwandlung erhalten die Inhaber Bargeld bis zur Nennwertsumme und wahlweise Bargeld, Aktien oder eine Kombination davon für den verbleibenden Umwandlungswert, nach Ermessensentscheidung von Integer.
- Stock price performance triggered conversion option, indicating strong market performance
- Flexibility in settlement method (cash, shares, or combination) provides financial management options
- Potential dilution if company chooses to settle conversions with shares
- Conversion could increase cash obligations if settled in cash
Insights
The convertibility trigger of Integer Holdings'
The
The medical device CDMO sector's positive outlook and Integer's market position suggest this conversion period could see significant activity, potentially impacting the company's capital structure and share price dynamics in the near term.
The conversion announcement reveals important market dynamics beyond the technical details. Integer's stock performance exceeding
The timing of this conversion period (Q1 2025) coincides with typically strong capital markets activity, which could influence conversion decisions. With Integer's current market cap of
PLANO, Texas, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Integer Holdings Corporation (NYSE: ITGR) (“Integer” or the “Company”), a leading medical device contract development and manufacturing organization, today notified holders of its
The Notes became convertible because the last reported sale price of shares of the Company’s common stock, for at least 20 trading days during the period of 30 consecutive trading days ending on, and including, the last trading day of the calendar quarter ended December 31, 2024, was greater than
The Notes are convertible at a conversion rate of 11.4681 shares of common stock per
The Company has issued a notice to holders with respect to the Conversion Option specifying the applicable terms, conditions and procedures. The notice is available through The Depository Trust Company or by requesting a copy from Wilmington Trust, National Association, which is serving as the conversion agent, at:
Wilmington Trust, National Association
1310 Silas Deane Highway
Wethersfield, CT 06109
Attn: Integer Holdings Corporation Notes Administrator
None of the Company, its Board of Directors or its employees has made or is making any representation or recommendation to any holder as to whether to exercise or refrain from exercising the Conversion Option.
This press release is not an offer to sell, nor a solicitation of an offer to buy securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Integer®
Integer Holdings Corporation (NYSE: ITGR) is one of the largest medical device contract development and manufacturing organizations (CDMO) in the world, serving the cardiac rhythm management, neuromodulation, and cardio and vascular markets. As a strategic partner of choice to medical device companies and OEMs, the Company is committed to enhancing the lives of patients worldwide by providing innovative, high-quality products and solutions. The Company's brands include Greatbatch Medical® and Lake Region Medical®. Additional information is available at www.integer.net.
| Investor Relations: | Media Relations: |
| Andrew Senn | Kelly Butler |
| andrew.senn@integer.net | kelly.butler@integer.net |
| 763.951.8312 | 469.731.6617 |
FAQ
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