iRhythm Prices Upsized Offering Of $575M Of 1.50% Convertible Senior Notes Due 2029
Portfolio Pulse from Benzinga Newsdesk
iRhythm Technologies, Inc. (IRTC) announced the pricing of its upsized offering of $575 million in 1.50% Convertible Senior Notes due 2029. The offering was increased from the initially announced $450 million. Additionally, an option for initial purchasers to buy up to an extra $86.25 million in notes within 13 days of issuance was provided. The sale is expected to close on March 7, 2024, subject to customary closing conditions.
March 05, 2024 | 6:36 am
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iRhythm Technologies, Inc. has upsized its convertible notes offering to $575 million, indicating potential confidence in its financial strategy and future growth.
The upsizing of the convertible notes offering from $450 million to $575 million suggests a strong demand from institutional investors and a positive outlook on iRhythm's financial health and growth prospects. This could lead to increased investor confidence and potentially a positive impact on the stock price in the short term.
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