K2M readies $65 million senior note offering

K2M (NSDQ:KTWO) said this week it looks to raise $65 million through an offering of convertible senior notes due 2025.
The Leesburg, Va.-based company said it also expects to grant initial note buyers an option to purchase an additional $10 million worth of the notes during a 13-day period beginning the first day it issues the notes.
Notes offered in the round will mature on June 30, 2025, unless converted, redeemed or repurchased earlier than that date, K2M said.
Net proceeds from the offering will be used to repay approximately $18 million in borrowings under the company’s revolving credit facility, while remaining funds will support general corporate purposes, according to a press release.
Last month, K2M said it launched the Mojave PL 3D expandable interbody system featuring its lamellar 3D titanium technology.
The post K2M readies $65 million senior note offering appeared first on MassDevice.

Source: Mass Device - June 14, 2018 Category: Medical Devices Authors: Fink Densford Tags: Business/Financial News Wall Street Beat K2M Source Type: news