Envista prices $435M 1.75% convertible notes due 2028; concurrent exchange of 2025 notes

Envista Holdings Corp

$435M principal of 1.75% convertible notes due 2028 priced; underwriters option for additional $65.25M.
Net proceeds ~$422.6M; ~$403M used to exchange ~$401.2M principal of existing 2.375% 2025 notes.
Initial conversion price ~$46.31/share, a 32.5% premium over $34.95 closing price on Aug 7.
Notes rated Baa3 by Moody's; settlement expected Aug 10, 2023; mature Aug 15, 2028.
Concurrent exchange of 2025 notes for ~$403M cash and ~8.4M shares of common stock.

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