Impinj greenshoe lifts 2% seven-year convertible notes to $86.25 million

Chicago, Jan. 7 – Initial purchasers of Impinj Inc.’s 2% seven-year convertible notes exercised their option in full to purchase an additional $11.25 million principal amount of the notes, according to an 8-K filing with the Securities and Exchange Commission.

With the initial issue of $75 million of the convertibles, the total is now $86.25 million.

Additionally, the company entered into privately negotiated capped call transactions with JPMorgan Chase Bank, NA, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.

As previously reported, the notes are contingently convertible until Sept. 15, 2026.

They are non-callable until Dec. 20, 2023 and then subject to a 130% hurdle.

The notes are putable upon a fundamental change. There is dividend protection.

The notes will be settled in cash, shares or a combination of both at the company’s option.

Impinj is a Seattle-based manufacturer of radio frequency identification devices and software.

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