Alignment Healthcare issues $330M 4.25% convertible notes due 2029; proceeds to repay term loan

Alignment Healthcare, Inc.

Issued $330M aggregate principal of 4.25% Convertible Senior Notes due 2029; net proceeds ~$321M.
Conversion price of ~$16.04 per share, a 25% premium to Nov 14, 2024 closing price.
Proceeds to repay existing SOFR+6.5% term loan facility and for general corporate purposes.
Placement agent plans to purchase ~3.44M shares in private transactions concurrently.
Year-end parent cash expected approximately $105M, excluding note transaction effects.

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