Mirion Technologies falls after $300 mln convertible debt sale unveiled
Mirion Technologies' MIR.N shares down 3.3% at $16.97 before the bell as co seeks capital raise
Radiation detection systems maker announces private offering of $300 mln 5-yr convertible bonds
It plans to use net proceeds to repay $250 mln of outstanding term loans, repurchase up to $50 mln worth of its shares, balance for general purposes
Co also expects to pay for capped calls, derivative transactions employed to offset share dilution
Atlanta, Georgia-based Mirion has ~$4.1 bln market cap, based on ~231.9 mln shares outstanding, per LSEG data
MIR closed up 1.8% at $17.54 on Mon, up 0.5% YTD. Stock is about 7% shy of its intraday record high of $18.81 hit in Dec
All 5 analysts covering MIR are bullish with median PT of $19, LSEG data currently reflects
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