BUZZ-LeMaitre Vascular slides on planned convertible debt offering

Reuters
2024-12-16
BUZZ-LeMaitre Vascular slides on planned convertible debt offering

** LeMaitre Vascular's LMAT.O shares down 8.5% to $92.10, hit lowest since Oct 31 early Mon, as medical device co looks to raise capital

** Burlington, Massachusetts-based implants provider offering privately $150 mln convertible bonds (CBs) due Feb 2030

** It plans to use net proceeds, including purchase of additional notes, for general purposes, including potential acquisitions or investments in complementary companies, products, or technologies

** Co had ~$2.3 bln market cap as of Fri, per LSEG

** Despite move on the session, stock up ~63% YTD. Shares hit record intraday high of $109.58 three weeks ago

** Of 10 analysts covering LMAT, 7 rate "strong buy" or "buy", rest "hold" with $100 median PT - LSEG

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380 ))

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