Impinj issues $190M 0% convert due 2029, repurchases 2027 notes with cash and stock

IMPINJ INC

Priced $190M 0% Convertible Senior Notes due 2029; initial conversion price $267.39/share (37.5% premium).
Net proceeds ~$183.6M; together with cash, used to exchange $190M of 1.125% 2027 Notes.
Exchanged $190M 2027 Notes for ~$190.5M cash + 0.8M shares; $97.5M of 2027 Notes remain outstanding.
Entered capped call transactions to reduce dilution; cap price $340.32/share (75% premium over last sale).
Greenshoe exercised in full increasing size from $170M to $190M.

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