Dec. 6 – Hologic has announced the pricing of $1.5 billion aggregate principal amount of convertible senior notes due 2037.
The Bedford, Mass.-based Hologic said its convertible senior notes mature in 2037 and will pay cash interest semiannually at a rate of 2 percent per year until Dec. 15, 2013, after which its principal will grow at a rate of 2 percent per year. Beginning with the interest period on Dec. 15, 2013, the notes will also pay contingent interest under certain circumstances based on the trading price of the notes.
The initial conversion price represents a 25 percent premium over the closing sale price of Hologic's common stock on Dec. 4. The sale of the convertible senior notes is expected to close on Dec. 10.
Goldman, Sachs acted as the sole book-running manager of the offering.
Hologic intends to use the net proceeds from the offering to repay a portion of its outstanding senior secured debt.