Wright Medical enters partial termination confirmations linked to convertibles exchange

By Wendy Van Sickle

Columbus, Ohio, June 16 – Wright Medical Group NV and Wright Medical Group, Inc. entered into three partial termination confirmations in connection with the exchange by a limited number of holders of Wright Medical Group, Inc.’s 2% cash convertible senior notes due 2020 for its 2.25% cash convertible senior notes due 2021, according to an 8-K filing with the Securities and Exchange Commission.

The termination confirmations were entered with JPMorgan Chase Bank, NA, Wells Fargo Bank, NA and Deutsche Bank AG, London Branch between June 10 and June 13.

Each termination confirmation amends the terms of both the base call option transaction confirmations and the base warrant confirmations entered into with each of the dealers in February 2015. They reduce the total number of base call options issued under the note hedge confirmations to 505,000 and the total number of base warrant options issued under the warrant confirmations to 16,864,409.

The dealers collectively paid Wright Medical Group, Inc. a net payment of $573,162.12, which was the difference between the $3,891,852.48 payable by the dealers with respect to the termination of the existing base call options and the $3,318,690.36 payable to the dealers with respect to the termination of the existing base warrant options.

Wright Medical is an orthopedic medical device company based in Amsterdam.

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