Six details:
1. The company proposed a $450 million offering of convertible senior notes that would be due 2025.
2. NuVasive intends to grant the initial purchasers of the convertible notes a 13-day option to purchase up to another $50 million aggregate principle amount of convertible notes.
3. The interest on the notes would be paid semiannually in arrears on March 15 and Sept. 15 every year, beginning Sept. 15, 2020.
4. NuVasive plans to enter into privately negotiated convertible note hedge transactions and warrant transactions with at least one dealer in connection with the offering. This action could reduce the potential for dilution to the company’s common stock upon conversion of the convertible notes.
5. NuVasive plans to use some of the net proceeds from this offering to pay the cost of the convertible note hedge transactions. It also plans to use $50 million of net proceeds from the offering to repurchase shares of common stock from purchasers of the convertible notes in the offering.
6. The remaining proceeds will be used for working capital and general corporate purposes, including potential mergers and acquisitions.
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