Insulet to redeem all 1.375% convertibles due 2024

By William Gullotti

Buffalo, N.Y., Oct. 4 – Insulet Corp. plans to redeem all of its outstanding 1.375% convertible senior notes due 2024, according to an 8-K filing with the Securities and Exchange Commission on Monday.

The notes will be redeemed at par on Nov. 15.

Current noteholders have until the 5 p.m. ET deadline on Nov. 12 to exercise their conversion rights.

The company intends to satisfy its conversion obligation by delivering shares of the company’s common stock and cash in lieu of any fractional share.

Insulet is an Acton, Mass.-based medical device company and owner of the proprietary Omnipod Insulin Management System.

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