Advanced Energy Announces Closing of $1.15 Billion 0% Convertible Senior Notes With Initial Purchasers’ Option Fully Exercised
Advanced Energy closed a $1.15 billion offering of 0% Convertible Senior Notes due 2031, including the full exercise of the over-allotment option. The company received net proceeds of approximately $1.13 billion, using $69 million for capped call transactions and $442 million in cash plus 1.98 million shares to exchange $438 million of its existing 2028 convertible notes.
Key figures
- Deal Value Usd
- 1150000000
- Cap price
- 678.38
- Capped call cost
- 69000000
- Conversion price
- 508.78
- Prior close price
- 339.19
- Old debt exchanged
- 438300000
- Hedge unwind proceeds
- 44600000
- Cash paid for exchange
- 442400000
- Shares issued for exchange
- 1980000
AI analysis
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