8-K
filed November 6, 2023, 6:59 PM ET
CIK 0001401708
debt
confidence high
sentiment neutral
materiality 0.85
NS Wind Down Co., Inc.: debt financing — NanoString exchanges $216M convertible notes for secured notes due 2026; Q3 revenue record $48.1M
NS Wind Down Co., Inc.
- Exchanged $216M (94%) of 2.625% Convertible Notes due 2025 for 6.95% Senior Secured Notes due 2026 and warrants for 16M shares at $1.69.
- Q3 revenue $48.1M (+63% YoY), above top end of guidance; spatial biology $28.9M, nCounter $19.2M.
- GAAP net loss $37.4M; non-GAAP net loss $21.2M; cash, equivalents & short-term investments $97.1M.
- FY2023 guidance narrowed: revenue $175-180M (from $175-185M); adjusted EBITDA loss widened to $80-85M (from $65-75M).
- Interest on new notes payable in-kind for first year at company's election; notes secured by substantially all assets.
Key facts
Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
NS Wind Down Co., Inc. incurred senior notes of approximately $216 million in aggregate principal amount with U.S. Bank Trust Company, National Association at 6.95% per annum maturing September 1, 2026.
- Instrument
- senior notes
- Principal
- approximately $216 million in aggregate principal amount
- Counterparty
- U.S. Bank Trust Company, National Association
- Rate
- 6.95% per annum
- Maturity
- September 1, 2026
- Event
- incurrence
Exact text from the filing
On November 6, 2023, NanoString Technologies, Inc. (the “Company”) announced it had entered into a privately negotiated exchange agreement (the “Exchange Agreement”) with certain existing holders of its outstanding 2.625% Convertible Senior Notes due 2025 (the “2025 Notes”), pursuant to which the Company will exchange approximately $216 million aggregate principal amount of the outstanding 2025 Notes for (i) approximately $216 million in aggregate principal amount of the Company’s 6.95% Senior Secured Notes due 2026 (the “2026 Notes”) and (ii) warrants
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
NS Wind Down Co., Inc. reported third quarter ended September 30, 2023 results: revenue $48.1 million. Guidance reaffirmed.
- Period
- third quarter ended September 30, 2023
- Revenue
- $48.1 million
- Guidance
- reaffirmed
- Result
- reported results
Exact text from the filing
Operating Results for Third Quarter of 2023 Completed Exchange Transaction with Convertible Note Holders Representing 94% of Outstanding Principal – Record Q3 Revenue of $48.1 Million, 63% Year on Year Growth and Above Upper End of Q3 Guidance Range – SEATTLE - November 6, 2023 - NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NS Wind Down Co., Inc. entered into Indenture with U.S. Bank Trust Company, National Association, as trustee and collateral agent.
- Action
- entry
- Agreement
- notes offering
- Counterparty
- U.S. Bank Trust Company, National Association, as trustee and collateral agent
Exact text from the filing
The 2026 Notes are to be issued pursuant to an indenture among the Company, the subsidiary guarantors from time-to-time party thereto and U.S. Bank Trust Company, National Association, as trustee and collateral agent (the “Indenture”).
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
NS Wind Down Co., Inc. entered into Exchange Agreement with certain existing holders of its outstanding 2.625% Convertible Senior Notes due 2025 valued at $216 million aggregate principal amount (effective 2023-11-06).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- certain existing holders of its outstanding 2.625% Convertible Senior Notes due 2025
- Value
- $216 million aggregate principal amount
- Effective
- 2023-11-06
Exact text from the filing
On November 6, 2023, NanoString Technologies, Inc. (the “Company”) announced it had entered into a privately negotiated exchange agreement (the “Exchange Agreement”) with certain existing holders of its outstanding 2.625% Convertible Senior Notes due 2025
View on SEC.gov
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