LeMaitre Vascular (LMAT) said late Monday it has priced a $150 million private offering of 2.50% convertible senior notes due 2030.
LeMaitre has also granted initial purchasers of the notes a 13-day option to acquire up to $22.5 million in additional notes.
Net proceeds, estimated to be about $145.9 million to $167.8 million, will be used for working capital and other general corporate purposes, the company said.
The initial conversion rate for the notes is 8.3521 shares of common stock per $1,000 of principal, or $119.73 per share, a premium of about 30% over Monday's closing price of $92.10 per share.
Settlement of the notes is expected to occur on Dec. 19, subject to customary closing conditions.
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