iRhythm Prices Upsized Offering Of $575M Of 1.50% Convertible Senior Notes Due 2029

Author: Benzinga Newsdesk | March 05, 2024 02:36am

iRhythm Technologies, Inc. ("iRhythm") (NASDAQ:IRTC), a leading digital health care company focused on creating trusted solutions that detect, predict and help prevent disease, announced today the pricing of its offering of $575.0 million aggregate principal amount of 1.50% Convertible Senior Notes due 2029 (the "notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). The aggregate principal amount of the offering was increased from the previously announced offering size of $450.0 million. iRhythm also granted the initial purchasers of the notes an option to purchase, within a 13-day period from, and including, the date on which the notes are first issued, up to an additional $86.25 million aggregate principal amount of notes. The sale of the notes is expected to close on March 7, 2024, subject to customary closing conditions

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