Integer closes $1B 1.875% convertible notes offering; expects ~$12M interest savings

Integer Holdings Corp

Closed $1B aggregate principal of 1.875% Convertible Senior Notes due 2030, upsized from $750M to $875M plus full $125M option.
Net proceeds ~$976.1M; used $71M for capped call transactions, exchanged ~$383.7M of 2028 notes for cash + 1.55M shares, repaid revolver and term A loan.
Capped call cap price $189.44 per share (60% premium over March 13 close of $118.40), mitigating potential dilution on conversion.
Expected to be immediately accretive to 2025 adjusted earnings from lower interest expense of ~$12 million.
Initial conversion rate 6.6243 shares/$1,000 (conversion price ~$150.96); interest payable semiannually at 1.875%.

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