TransMedics amends credit agreement to allow up to $460M convertible notes and capped calls

TransMedics Group, Inc.

On May 8, 2023, entered First Amendment to Credit Agreement with CIBC to enable 1.50% Convertible Senior Notes due 2028.
Permitted aggregate principal of up to $460M for convertible notes with interest rate capped at 3.00% per annum.
Also permits privately negotiated capped call (Permitted Bond Hedge) and warrant transactions.
Amendment modifies covenants (Change of Control, Indebtedness) and adds operating account and restricted payment provisions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

TransMedics Group, Inc. amended Credit Agreement Amendment with Canadian Imperial Bank of Commerce valued at amended certain covenants and other provisions to enable issuance of 1.50% Convertible Senior Notes (effective 2023-05-08).

Action: amendment
Agreement: credit facility
Counterparty: Canadian Imperial Bank of Commerce
Value: amended certain covenants and other provisions to enable issuance of 1.50% Convertible Senior Notes
Effective: 2023-05-08

Exact text from the filing

On May 8, 2023, we entered into an amendment to the credit agreement (the “Amendment”), which amends that certain credit agreement dated as of July 25, 2022 (the “Credit Agreement”), with Canadian Imperial Bank of Commerce, which among other items, amended certain covenants and other provisions under the Credit Agreement to enable the issuance of our 1.50% Convertible Senior Notes due 2028 and to permit us to enter into privately negotiated capped call transactions, subject to the terms and conditions under the Amendment.

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TransMedics Group, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-23-138845

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