BUZZ-Semler Scientific falls after plan to offer $85 mln convertible debt offering
ReutersJan 24, 2025 2:15 PM
Medical equipment maker Semler Scientific's SMLR.O shares fall ~11% to $54.60 premarket
Company announces pricing of $85 mln convertible senior notes due 2030 in a private offering to institutional buyers
Initial conversion price of ~$76.44 per share, represents 25% upside to stock's last close
Company plans on using the proceeds for general corporate purposes, including acquiring bitcoin
Semler entered into capped call transactions to offset potential dilution to its common stock due to the conversion of notes
The capped call transactions have a cap price of ~$107.01, represents a 75% upside to stock's last close
SMLR has ~9.6 mln shares outstanding - LSEG
Company's shares rose ~22% in 2024
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