Omnicell Floating $500 Million Convertible Notes Issue
Omnicell (NASDAQ: OMCL) is hoping to reap at least $500 million from an upcoming round of capital raising. The company, which specializes in automation solutions for the pharmaceutical industry, is floating an issue of unsecured, convertible senior notes at that aggregate principal amount. They will be sold in a private placement to qualified institutional buyers. The timing of the issue has not been set.
The notes mature in 2025, and will pay interest semi-annually; the rate will be determined when the issue is priced. They will be convertible either to shares of Omnicell common stock, cash, or a combination of the two. As with the interest, the conversion rates have not yet been set.
Image source: Getty Images.
Source Fool.com
