NeoGenomics announced the pricing of a private offering of $275 million in aggregate principal amount of 0.75% convertible senior notes due 2032. The company also granted initial purchasers an option to acquire up to an additional $41.25 million in notes. Net proceeds will primarily be used to repurchase existing debt, buy back common stock, and fund capped call transactions.
Key Details
- Offering Size: $275 million aggregate principal amount, with an additional $41.25 million option for purchasers.
- Terms: The notes will bear an interest rate of 0.75% per year and mature on July 1, 2032. The initial conversion price is set at approximately $14.16 per share, a 35% premium to the closing price on June 16, 2026.
- Use of Proceeds: The company plans to use the estimated net proceeds of $266.15 million to repurchase $276 million of its existing 0.25% convertible notes due 2028, repurchase up to $25 million of its common stock, and pay for capped call transactions to reduce potential dilution.
- Timeline: The offering is expected to close on June 22, 2026, subject to customary closing conditions.