Freshpet prices $350M 3.00% convertible senior notes due 2028

Freshpet, Inc.

Offering of $350 million aggregate principal amount of 3.00% convertible notes due April 1, 2028.
Initial conversion price ~$69.68 per share, a 27.5% premium over $54.65 closing price.
Net proceeds ~$340.3M (or ~$391.4M if greenshoe exercised); ~$57.6M used for capped call transactions.
Capped call transactions entered to reduce potential dilution; cap price initially $120.23 per share.
Notes are senior unsecured, interest payable semi-annually; settlement expected March 20, 2023.

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