Glaukos Corporation Reveals Agreements To Exchange $230M In Principal Amount Of Its 2.75% Convertible Senior Notes Due 2027 For Common Stock; These Exchange Transactions Are Expected To Close On Or About June 25, 2024
Portfolio Pulse from Benzinga Newsdesk
Glaukos Corporation (NYSE:GKOS) has announced agreements to exchange $230 million in principal amount of its 2.75% Convertible Senior Notes due 2027 for common stock. The transactions are expected to close around June 25, 2024.
June 14, 2024 | 11:25 am
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Glaukos Corporation has entered into agreements to exchange $230 million of its 2.75% Convertible Senior Notes due 2027 for common stock. This move is expected to close around June 25, 2024, subject to customary conditions.
The exchange of convertible notes for common stock can reduce debt and potentially improve the company's balance sheet. This could be seen positively by investors, leading to a potential short-term increase in stock price.
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