BUZZ-Semler Scientific falls after plan to offer $85 mln convertible debt offering

Reuters
01-24
BUZZ-Semler Scientific falls after plan to offer $85 mln convertible debt offering

** Medical equipment maker Semler Scientific's SMLR.O shares fall ~11% to $54.60 premarket

** Company announces pricing of $85 mln convertible senior notes due 2030 in a private offering to institutional buyers

** Initial conversion price of ~$76.44 per share, represents 25% upside to stock's last close

** Company plans on using the proceeds for general corporate purposes, including acquiring bitcoin

** Semler entered into capped call transactions to offset potential dilution to its common stock due to the conversion of notes

** The capped call transactions have a cap price of ~$107.01, represents a 75% upside to stock's last close

** SMLR has ~9.6 mln shares outstanding - LSEG

** Company's shares rose ~22% in 2024

(Reporting by Kamal Choudhury in Bengaluru)

((Kamal.Choudhury@thomsonreuters.com))

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