Lantheus prices $500M convertible senior notes at 2.625% due 2027; net proceeds ~$485M for buybacks, corporate purposes

Lantheus Holdings, Inc.

Offers $500M in 2.625% convertible senior notes due Dec 15, 2027; initial purchasers may buy up to $75M more.
Initial conversion rate: 12.5291 shares per $1,000 principal (~$79.81/share), a 42.5% premium over $56.01 close.
Expected net proceeds ~$485M; $75M to repurchase shares from note purchasers, remainder for general corporate use, including up to $75M additional buybacks.
Board authorized up to $150M in common stock repurchases under certain circumstances; notes are guaranteed by subsidiary Lantheus Medical Imaging.
Closing expected Dec 8, 2022; notes redeemable at company option after Dec 22, 2025 if stock price exceeds 130% of conversion price.

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