DexCom completes $1.25B convertible notes offering, buys back $188.7M of common stock

DEXCOM INC

Issued $1.25B of 0.375% convertible senior notes due 2028, including full exercise of $150M additional note option.
Net proceeds estimated at ~$1.23B; used $101.3M for capped call transactions and $188.7M to repurchase common stock.
Initial conversion rate 6.1571 shares per $1,000 principal (conversion price ~$162.41); notes mature May 15, 2028.
Entered capped call transactions with counterparties to reduce potential dilution upon conversion, with cap price ~$212.62.
Remaining proceeds to be used for capex, working capital, and general corporate purposes.

item 1.01 item 8.01 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DEXCOM INC entered into a notes offering with Initial Purchasers valued at $1.25 billion (effective 2023-05-05).

Action: entry
Agreement: notes offering
Counterparty: Initial Purchasers
Value: $1.25 billion
Effective: 2023-05-05

Exact text from the filing

On May 5, 2023, DexCom, Inc. (the “ Company ”) completed its previously announced sale of $1.25 billion in aggregate principal amount of its 0.375% Convertible Senior Notes due 2028 (the “ Notes ”), which includes the full exercise of the Initial Purchasers’ option to purchase up to an additional $150.0 million in aggregate principal amount of Notes, to the Initial Purchasers (as defined below) in a private placement

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DEXCOM INC filing history →

Source: SEC EDGAR

accession 0001193125-23-137248

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