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Lantheus Holdings, Inc. Announces Pricing of Offering of $500 Million Convertible Senior Notes due 2027
NORTH BILLERICA, Mass., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (the “Company” or “Lantheus”) (NASDAQ: LNTH), today announced the pricing of
About this update from Lantheus Holdings, Inc.
[{"type":"text","content":"NORTH BILLERICA, Mass., Dec. 06, 2022 (GLOBE NEWSWIRE) -- Lantheus Holdings, Inc. (the “Company” or “Lantheus”) (NASDAQ: LNTH), today announced the pricing of $500 million in aggregate principal amount of the Company’s convertible senior notes due 2027 (the “Notes”). The Notes are being sold only 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 Company also granted the initial purchasers of the Notes an option to purchase, within the 13-day period beginning on, and including, the initial closing date of the offering, up to an additional $75 million in aggregate principal amount of Notes. The sale of the Notes to the initial purchasers is expected to settle on or about December 8, 2022, subject to customary closing conditions, and is expected to result in approximately $485 million in net proceeds to the Company (assuming no exercise by the initial purchasers of their option to purchase additional notes), after deducting the initial purchaser’s discount and estimated offering expenses payable by the Company. The Notes will be senior unsecured obligations of the Company. The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Lantheus Medical Imaging, Inc., a direct wholly owned subsidiary of the Company. The Notes will bear interest at a rate of 2.625% per year, payable semi-annually in arrears on June 15 and December 15 of each year, beginning on June 15, 2023, and will mature on December 15, 2027, unless earlier redeemed, repurchased or converted. The initial conversion rate for the Notes is 12.5291 shares of the Company’s common stock per $1,000 in principal amount of Notes (which is equivalent to an initial conversion price of approximately $79.81 per share of the Company’s common stock, representing an initial conversion premium of approximately 42.5% above the closing price of $56.01 per share of the Company’s common stock on December 5, 2022). Prior to the close of business on the business day immediately preceding September 15, 2027, the Notes may be converted at the option of the holders only upon occurrence of specified events and during certain periods, and thereafter until the close of business on the business day immediately preceding the maturity date, the Notes may be con...