secwatch.observer — SEC 8-K summary
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Issuer:     OPKO HEALTH, INC. (OPK)
CIK:        0000944809
Form:       8-K
Filed at:   2024-01-09T23:59:59+00:00
Accession:  0001437749-24-001007
Event type: debt
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 1.02, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OPKO Health closes $301M convertible note offering, repurchases stock and existing debt
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- Issued $230M of 144A Notes and $71.1M of Affiliate Notes (3.75% due 2029); net proceeds $221.4M from 144A.
- Used $50M to repurchase ~55.1M shares of common at $0.9067/sh; used $146.3M to retire $144.4M of 4.50% notes due 2025.
- Retired $55M of existing 5% convertible notes (plus $16.1M accrued interest) via exchange for Affiliate Notes.
- Conversion price initially $1.15/share; notes mature Jan 15, 2029; holders may convert under specified conditions.
- Affiliate purchasers include CEO Phillip Frost (Frost Gamma Investments) and Vice-Chair Jane H. Hsiao.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/0001437749-24-001007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/944809/000143774924001007/opk20240108_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-24-001007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer