Fluidigm buys back $50.2 million 2.75% convertibles for $51.8 million

By Angela McDaniels

Tacoma, Wash., Nov. 22 – Fluidigm Corp. repurchased $50.2 million principal amount of its 2.75% senior convertible notes due 2034 in separate, privately negotiated transactions with institutional investors on Wednesday, according to an 8-K filing with the Securities and Exchange Commission.

The company paid about $51.8 million in cash for the convertibles.

Following the consummation of these repurchases, the company estimates that about $1.1 million principal amount of the 2.75% convertibles will remain outstanding.

The company used a portion of the proceeds of its $55 million 5.25% convertible senior notes due 2024 to fund the repurchases. The new convertibles priced Wednesday.

The remaining proceeds will be used for working capital and other general corporate purposes, which may include capital expenditures, the repurchase or other retirement of any remaining 2.75% convertibles, potential acquisitions and strategic transactions.

South San Francisco, Calif.-based Fluidigm develops, makes and markets integrated microfluidic circuit systems.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.