Post by luxetvox on Jan 5, 2024 23:18:57 GMT
I expected to see some activity in the "old" converts, given this portion of the PR:
Also, contemporaneously with the pricing of the Notes, the Company entered into separate, privately negotiated transactions with certain holders of the Company’s outstanding 4.50% Convertible Senior Notes due 2025 (the “2025 Convertible Senior Notes”) to repurchase for cash approximately $144.4 million aggregate principal amount of such notes. The Company expects to use approximately $146.3 million of the net proceeds from the offering of the Notes and cash on hand to consummate such repurchases. In addition, the Company may, from time to time, repurchase, redeem or otherwise retire additional 2025 Convertible Senior Notes. The terms of the foregoing note repurchases were individually negotiated with certain holders of the 2025 Convertible Senior Notes depending on several factors, including the market price of the common stock and the trading price of the 2025 Convertible Senior Notes at the time of each such repurchase. Such repurchases are not conditioned upon the completion of the offering of the Notes, nor is the completion of the offering of the Notes conditioned upon such repurchases.
I just check the trade activity for the 4.5% converts. Sure enough, ~$50.5 million traded today. Several trades, all occurring pre-market (at 9:07 and 9:08). And all traded at $99.25, except for $6.389 million, which was at $99.5.
These had to be buys for/by Opko. I would think that we'll see more next week, but that's just an educated guess at this point.
Also, contemporaneously with the pricing of the Notes, the Company entered into separate, privately negotiated transactions with certain holders of the Company’s outstanding 4.50% Convertible Senior Notes due 2025 (the “2025 Convertible Senior Notes”) to repurchase for cash approximately $144.4 million aggregate principal amount of such notes. The Company expects to use approximately $146.3 million of the net proceeds from the offering of the Notes and cash on hand to consummate such repurchases. In addition, the Company may, from time to time, repurchase, redeem or otherwise retire additional 2025 Convertible Senior Notes. The terms of the foregoing note repurchases were individually negotiated with certain holders of the 2025 Convertible Senior Notes depending on several factors, including the market price of the common stock and the trading price of the 2025 Convertible Senior Notes at the time of each such repurchase. Such repurchases are not conditioned upon the completion of the offering of the Notes, nor is the completion of the offering of the Notes conditioned upon such repurchases.
I just check the trade activity for the 4.5% converts. Sure enough, ~$50.5 million traded today. Several trades, all occurring pre-market (at 9:07 and 9:08). And all traded at $99.25, except for $6.389 million, which was at $99.5.
These had to be buys for/by Opko. I would think that we'll see more next week, but that's just an educated guess at this point.