OSI Systems prices upsized $300M convertible notes offering at 2.25% due 2029

OSI SYSTEMS INC

Offering upsized from $275M to $300M; initial conversion price $191.98/share, a 27.5% premium to $150.57 close.
Net proceeds ~$291.8M; ~$80M used to repurchase 531,314 shares concurrently; remainder to repay credit facility.
Notes mature Aug 1, 2029; interest 2.25% paid semi-annually; settlement expected July 19, 2024.
Initial purchasers granted option for up to $50M additional notes; total potential $350M.
Convertible into OSI common stock; cash and/or shares settlement; redemption possible after Aug 6, 2027 if conditions met.

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