TANDEM DIABETES CARE INC (TNDM): debt financing — Tandem Diabetes Care issues $316.25M convertible notes, repurchases existing 2025 notes and common stock

TANDEM DIABETES CARE INC

Issued $316.25M aggregate principal amount of 1.50% Convertible Senior Notes due 2029, including full exercise of initial purchasers' option for additional $41.25M.
Used $246.1M of net proceeds to repurchase $246.7M of its 1.50% Convertible Senior Notes due 2025 in privately negotiated transactions.
Used $30.0M to repurchase approximately 1.1 million shares of common stock at $27.105 per share from note purchasers.
Entered capped call transactions with initial purchasers to reduce potential dilution upon conversion, with initial cap price of $42.0128 per share.
Net proceeds were approximately $306.4M after deducting discounts, commissions, and capped call costs.

item 1.01 item 2.03 item 3.02 item 8.01 item 9.01

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

TANDEM DIABETES CARE INC incurred convertible notes of $316.25 million aggregate principal amount with U.S. Bank Trust Company, National Association at 1.50% per year maturing March 15, 2029.

Instrument: convertible notes
Principal: $316.25 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 1.50% per year
Maturity: March 15, 2029
Event: incurrence

Exact text from the filing

On March 8, 2024, Tandem Diabetes Care, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $316.25 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029 (the “Notes”), including the exercise in full of the initial purchasers’ option to purchase up to an additional $41.25 million principal amount of Notes.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

TANDEM DIABETES CARE INC entered into Indenture with U.S. Bank Trust Company, National Association valued at $316.25 million aggregate principal amount (effective 2024-03-08).

Action: entry
Agreement: notes offering
Counterparty: U.S. Bank Trust Company, National Association
Value: $316.25 million aggregate principal amount
Effective: 2024-03-08

Exact text from the filing

Indenture and Notes On March 8, 2024, Tandem Diabetes Care, Inc. (the “Company”) completed its previously announced private offering (the “Offering”) of $316.25 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029

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299 debt financings filed in the last 30 days. Browse all debt financings →

TANDEM DIABETES CARE INC filing history →

Source: SEC EDGAR

accession 0001438133-24-000042

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