OPKO Health launches $200M convertible notes offering due 2029; plans stock and note buybacks

OPKO HEALTH, INC.

Private offering of $200M aggregate principal of Convertible Senior Notes due 2029, plus $30M greenshoe.
Net proceeds include up to $50M for repurchases of common stock from note purchasers in negotiated transactions.
Also intends to repurchase a portion of outstanding 4.50% Convertible Senior Notes due 2025 from net proceeds.
Affiliates of CEO and Vice-Chairman expect to exchange $70M of existing 5% convertible notes for new 2029 notes.
Interest rate, conversion rate set at pricing; conversions settled in cash, stock, or combination at company's election.

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