secwatch.observer — SEC 8-K summary
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Issuer:     EXACT SCIENCES CORP (—)
CIK:        0001124140
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0001124140-24-000020
Event type: debt
Sentiment:  neutral
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exact Sciences exchanges notes; issues $620.7M of 1.75% convertibles due 2031
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- Issued $620.7M principal of 1.75% Convertible Senior Notes due 2031 in exchange for $359.7M of 0.375% Notes due 2028 and $266.75M cash.
- Initial conversion rate of 10.0644 shares per $1,000 principal; conversion price ~$99.36 per share.
- New notes mature April 15, 2031; interest payable semi-annually; redeemable after April 2029 if stock >=130% of conversion price.
- Holders may require repurchase at 100% principal plus accrued interest upon a fundamental change.
- Notes issued in private placement under Section 4(a)(2) of Securities Act.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1124140/000112414024000020/0001124140-24-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1124140/000112414024000020/exas-20240417.htm
  HTML page:      https://secwatch.observer/filing/0001124140-24-000020

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