iRhythm prices $575M convertible notes at 1.50%, upsized from $450M

iRhythm Holdings, Inc.

$575M aggregate principal amount of 1.50% Convertible Senior Notes due 2029; upsized from $450M.
Initial conversion price ~$147.22/share, 35% premium over March 4 close of $109.05.
Net proceeds ~$559.5M; uses: repay $80.2M Braidwell debt, $63M capped calls, $25M share repurchase (229,252 shares).
Capped call transactions cap at $218.10/share to reduce potential dilution upon conversion.
Closing expected March 7, 2024; initial purchasers have 13-day option for additional $86.25M.

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