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Guardant Health Announces Proposed $300.0 Million Offering of Convertible Senior Notes Due 2033
PALO ALTO, Calif.--(BUSINESS WIRE)-- Guardant Health, Inc. (“Guardant Health”) (Nasdaq: GH), a leading precision oncology company, today announced its
About this update from Guardant Health, Inc.
[{"type":"text","content":" PALO ALTO, Calif.--(BUSINESS WIRE)--\nGuardant Health, Inc. (“Guardant Health”) (Nasdaq: GH), a leading precision oncology company, today announced its intention to offer $300.0 million aggregate principal amount of convertible senior notes due 2033 (the “notes”) in a private offering (the “convertible notes offering”) to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). Guardant Health also expects to grant the initial purchasers of the notes an option to purchase, for settlement within a period of 13 days from, and including, the date the notes are first issued, up to an additional $45.0 million aggregate principal amount of notes. The convertible notes offering is subject to market and other conditions, and there can be no assurance as to whether or when the convertible notes offering may be completed, or as to the actual size or terms of the convertible notes offering.\n\nThe notes will be senior, unsecured obligations of Guardant Health, will accrue interest payable semi-annually in arrears and will mature on May 15, 2033, unless earlier converted, redeemed or repurchased by Guardant Health. Noteholders will have the right to convert all or any portion of their notes in certain circumstances and during specified periods. Guardant Health will settle conversions by paying or delivering, as applicable, cash, shares of its common stock or a combination of cash and shares of its common stock, at Guardant Health’s election.\n\nThe notes will not be redeemable at Guardant Health’s election before November 20, 2029. The notes will be redeemable, in whole or in part, for cash at Guardant Health’s option at any time, and from time to time, on a redemption date on or after November 20, 2029 and on or before the 25th scheduled trading day immediately before the maturity date, but only if the last reported sale price per share of Guardant Health’s common stock exceeds 130% of the conversion price for a specified period of time. The interest rate, initial conversion rate and other terms of the notes will be determined at the pricing of the convertible notes offering.\n\nGuardant Health intends to use the net proceeds from the convertible notes offering, together with the net proceeds from Guardant Health’s concurrent common stock of...