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DexCom opts to redeem $1.5 million of 4.75% convertible notes due 2027
By Jennifer Chiou
New York, June 11 - DexCom, Inc. gave notice that it elected to redeem $1.5 million of its 4.75% convertible senior notes due 2027 on Wednesday, according to a company release.
The company paid par plus accrued interest.
Holders had until 5 p.m. ET on June 8 to convert their notes at a conversion price of $7.80 per share for a rate of 128.2051 shares per $1,000 principal amount.
The company's shares closed at $10.13 apiece on Friday,
As already reported, DexCom issued 1,215,908 common shares in exchange for $9.1 million of the notes on Jan. 28 as well as 1,298,544 shares for $9.75 million of the notes on Feb. 24. It then issued 1,480,404 shares for $11.15 million of notes on March 10.
Wells Fargo Bank, NA is the trustee.
The issuer is a San Diego-based marketer of continuous glucose-monitoring systems.
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