DexCom prices upsized $1.1B 0.375% convertible notes due 2028; repurchases $188.7M of stock

DEXCOM INC

Offering raised to $1.1B from initially announced $1.0B; initial purchasers have 13-day option for additional $150M.
Notes carry 0.375% coupon, mature May 15, 2028; initial conversion price ~$162.41/share (37.5% premium over May 2 close of $118.12).
Net proceeds ~$1.08B ($1.23B if option exercised); $188.7M used to repurchase 1.6M shares at $118.12 concurrent with offering.
$89.1M allocated to capped call transactions to reduce potential dilution; remainder for capex, working capital, and general purposes.
Notes are unsecured, non-redeemable before May 20, 2026; holders can require repurchase upon a fundamental change.

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