Merit Medical upsizes convertible notes offering to $650M at 3.00% due 2029

MERIT MEDICAL SYSTEMS INC

$650M aggregate principal of 3.00% convertible senior notes due Feb 2029; upsized from $550M.
Initial conversion price ~$86.83/share (32.5% premium over Dec 5 close); 11.5171 shares per $1,000 principal.
Capped call transactions mitigate dilution; cap price ~$114.68/share.
Net proceeds ~$630.5M (or ~$725.1M if overallotment exercised); $57.9M for capped calls.
Priced Dec 6, 2023; close Dec 8, 2023; offered to QIBs under Rule 144A.

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